On August 6th, the US media said that giants such as AstraZeneca will release their newly developed drugs in China for the first time before they will be sold in the US and Europe.
According to Bloomberg News on August 3, less than a year has passed in the process of cutting drug approval procedures in Beijing, and Chinese patients can get some breakthrough drugs before the Americans.
AstraZeneca Pharmaceuticals of the United Kingdom is offering its latest anemia treatment at pharmacies in Shanghai and Beijing, a year before the drug was launched in the US. The same story happened to the US pharmaceutical giant Eli Lilly, which is working with Chinese partners to develop drugs for the treatment of bowel cancer.
Daniel Mahoney, medical fund manager at Polar Capital LLP in London, said: "20 years from now, China will have a market that is comparable to or even larger than the US." He also said that the first approval in China now sounds It may be a bit unusual, but the situation will be different after 5 years.
According to reports, China's 1.4 billion people are becoming the main target of global pharmaceutical companies. Chinese people can enjoy more medical insurance than ever before, and there are still many people who are paying for their own prescriptions for Western treatments that are not covered by medical insurance.
This is part of China's efforts to reshape the pharmaceutical industry. In May this year, Beijing cancelled tariffs on 28 imported drugs and extended patent protection orders.
The report also said that in October last year, the Chinese government abolished a rule that requires companies to repeat all drug trials in China before entering the Chinese market. This move is part of a broader reform and a move to change the rules of the game, as it means that large pharmaceutical companies can launch heavyweight products in China simultaneously with the US.
According to reports, AstraZeneca is working with San Francisco-based company FibroGen to develop a new drug for the treatment of anemia, Roxadustat, which is being tested under the new system. China Food and Drug Administration will give priority to its approval: the results will be shared and evaluated after each trial. In contrast, they will be able to apply to the US Food and Drug Administration after all trials have been completed in the first half of 2019.
Ludovich Helfgott of AstraZeneca Pharmaceuticals said: "This is a landmark event. The world's brands and drugs produced by global manufacturers will be authorized for approval for the first time in China."
Xin Tao, a lawyer at Hogan Lawwells, who works in Washington, said: "People don't care if they have enough food, but care about 'What happens if I get cancer?'"
According to the report, in order to improve medical coverage, more than 100 kinds of drugs were newly included in medical insurance last year, including AstraZeneca's heart drug Brilinta, and Roche Holding's Herceptin and GlaxoSmithKline's Vired. Some medicines are 50% less expensive than the US and Europe.
Chris Chung, vice president of FibroGen's China operations, said: "We did not expect the rapid expansion of the Chinese market. Now people think we are very smart, we have a crystal ball."
According to researchers at health data company Iqvia Holdings, China's pharmaceutical market will grow by 30% to $170 billion by 2021.
According to the report, Takeda Pharmaceutical Co., Ltd., which is famous for producing diabetes therapeutic drugs, plans to conduct seven promotion activities in China in the next five years, more than anywhere else.
Christopher Weber, CEO of Takeda Pharmaceuticals, said: "Our medium-term goal is to enter China in the early stages of development."
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