In the last year, when viewed on a micro-economic scale, it is clear that Chinese pharma is increasingly supporting the entire pharmaceutical value chain, with biopharma in particular seeing government support and investment. The government’s ‘Made in China 2025’ plan listed biomedicine including gene therapies, monoclonal antibodies, and vaccines as the priority for the industry in the future. The country is also seeking increasing foreign direct investment to supplement its considerable investment capabilities, with the ambitious goal of furthering true innovation in biopharmaceuticals and advanced medicinal products.
China is already the largest producer of APIs, starting materials, critical intermediates, and xcipients worldwide, producing over 4500 different types of pharmaceutical formulations in more than 60 dosage forms. The country is now pushing forward reforms in the pharmaceutical regulatory reviews and approval systems, with the goal of eliminating the drug application backlog within 2-3 years and enhancing export potential—both to emerging economies and highly regulated markets. Chinese and international pharmaceutical enterprises including Wuxi Apptec, Sinochem, Sartorius, Canaan, Colorcon, Shinva Medical, Truking, De Dietrich, Merck Millipore, Bachem are already confirmed to participate alongside exhibiting alongside a diverse supply chain.
Michael Change, Vice President at Tofflon, commented: “Tofflon joined P-MEC China in 2007. We share the one vision to bring China-made pharmaceutical machinery into international markets. Within 9-years, we started from just one individual product, and grew into company providing total solutions for pharmaceutical manufacturers both domestic and international.”
Pharma executives will meet, target prospects, and conduct business, whilst obtaining the latest insight from across a market that is rapidly advancing up the value chain and tightening regulations, but simultaneously, lowering production costs.
Filed Under: Drug Discovery