China Announces Plan to Reform Pharmaceutical Regulations to Boost Industry Development
The Chinese government has announced a plan to reform the regulation of medicines and medical devices, aiming to promote the development of the pharmaceutical industry while adhering to strict quality standards.
It's worth noting that 2024 has been a remarkable year for the Chinese pharmaceutical sector. The Asian giant is no longer content with copying medicines, but is now creating its own patents. Several Chinese biotech companies are standing out with the licenses they develop and offer on the market.
Moreover, generic medicine remains China's main success story, having successfully invaded the European market with high-quality, low-cost medicines.
The European Union has expressed concerns about this dependence on China, predicting that if strict measures are not taken to reverse the trend, one-third of the medicines consumed by Europeans in the future will come from China.
