China's drug regulator fast-tracks home-grown innovative medicines
On Wednesday, state media announced that China's drug regulatory authority has approved a series of innovative medications developed domestically, streamlining their market entry with a revamped approval system. Notably, this year’s government work report recognized the pharmaceutical industry as a key driver of national economic growth for the first time. In 2024, China granted approval to 76 innovative drugs, a rise from 48 the previous year. Biotech firms, such as Fosun Pharma, are boosting their research and development investments. With a notable increase in spending and out-licensing agreements, domestic companies are leading the way in drug approvals.
Key facts
- China's drug regulator cleared a wave of home-grown innovative medicines.
- The regulator overhauled its approval process to accelerate market access.
- State media reported the changes on Wednesday.
- The pharmaceutical sector was named a national economic growth engine in this year's government work report for the first time.
- China approved 76 innovative drugs last year, up from 48 in 2024.
- Biotech companies, including Fosun Pharma, are ramping up R&D spending.
- Domestic firms dominate drug approvals amid a jump in spending and out-licensing deals.
Entities
Institutions
- Fosun Pharma
Locations
- China