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Chinese authorities to quicken approvals for vital drugs

BEIJING
2015-12-01 10:57

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Chinese authorities will quicken the approving procedure for innovative drugs preventing and treating some major diseases and those involved in the national key technologies R&D program and the national key R&D program, the Economic Information Daily reported on Tuesday.

China's pharmaceutical industry is believed to face its turning point in 2015 and the annual growth of the industry is predicted to slow to around 10 percent, according to people participating the 28th China Pharmaceutical Industry Development Summit held Monday in Xiamen, Fujian province.

Nevertheless, the demand is still rigid and the development potential of the industry is huge in the long run. As the approvals for new drugs will be given quicker with supporting policies in sight, innovative drugs will be a hot investment target of the pharmaceutical industry.

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