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A nurse prepares a vaccine to be given to a child in a hospital in Beijing, China, April 13, 2016. REUTERS/Damir Sagolj
The world’s most populous country is aging quickly. Despite overwhelming demand for treatments against cancer, diabetes, and cardiovascular disease, Chinese drugmakers have produced few innovative medicines so far. But there’s a new breed of biotechnology upstarts inspired by friendly policies, government research incentives, and the prospect of grabbing a slice of the world’s second-largest drugs market, at $137 billion in 2018 according to healthcare analytics group IQVIA.
More such breakthroughs are probably on the way. One reason is the country’s 2017 entry into the International Council for Harmonisation, which sets standards for developing new drugs. For China, a key benefit of adopting ICH guidelines is that other members of the coalition, including American and European regulators, will more readily accept local clinical trial results. BeiGene’s landmark U.S. approval was also the first to be based partly on data from Chinese patients.
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