Aug 22, 05:37 AM

China's Pharmaceutical Industry Ranks Second Globally with 30% of Innovative Drugs, Premier Li Qiang Urges Policy Support

China's pharmaceutical industry has become the second largest globally, with approximately 30 percent of the world's innovative drugs currently in research and development attributed to the country, according to Yang Sheng, deputy head of the National Medical Products Administration (NMPA). This growth reflects China's expanding role in the global pharmaceutical market. Additionally, Chinese Premier Li Qiang has called for high-quality scientific and technological empowerment and supportive policies to further enhance the quality and advancement of China's biomedical industry. Meanwhile, in the Philippines, generic drugs remain more expensive than in countries like India, indicating other factors influencing drug prices beyond brand status.