China said it plans to accept data from overseas clinical trials in an attempt to speed up drug approvals, a potential win for international drugmakers as well as local patients.
According to Reuters, in the past 15 years, China has approved just over 100 innovative new drugs — about one-third the number in developed markets. China’s pharmaceutical market is the second-largest in the world, according to BMI Research.
In addition to accepting overseas clinical data, the China Cabinet is also looking to improve the protection of medical intellectual property and boost the number and quality of clinical trial testing centers in China.
Read the Reuters Coverage