Chinese pharma companies are facing a huge demand for lung cancer treatments as air pollution and high smoking rates make lung cancer the most common type of cancer in the country.
China recorded more than 700,000 new cases of lung cancer in 2015, and already in 2017, at least 62 cities have issued health alerts related to air quality.
While China’s market for cancer drugs is still dominated by foreign companies such as Roche Holding and AstraZeneca, the Chinese government has begun easing financing and regulation for health-care companies, says Bloomberg. The lung cancer spread has brought new Nasdaq listings as well as billion-dollar market values for Chinese companies such as Betta Pharmaceuticals Co. and Hutchison China MediTech, all attempting to build blockbuster treatments.
Read the Bloomberg article