Posted by Michael Wonder on 11 Nov 2019
China’s drug market is opening up
11 November 2019 - Beijing’s health-care reforms are giving global pharmaceutical companies better access to the world’s second-largest drug market.
China’s plan to make its health care system better and more affordable is throwing up opportunities for global drugmakers.
There has been a tectonic shift in China’s drug policy in the past couple of years. The government is approving innovative foreign drugs at a record pace, while trying to push down sky-high prices. Fifty-one innovative drugs, 80% of them from global pharmaceutical companies, were approved last year, up from just five in 2016, according to Deloitte.
