Plans to double Chinese spending on biopharma innovation sees global pharma companies vying for leadership in this burgeoning market, writes A Nair, Asia correspondent.
Strategic partnerships are being inked in China to enable multinational pharma majors to establish a leadership presence in developing novel biologics in the Asian country. Biologics cover a wide range of pharmaceuticals and several multinationals are vying to market their biological products in China and compete with local state-owned enterprises manufacturing similar products.
China’s Minister of Health has said that China plans to spend US$11.8bn to increase biopharma innovation in its 13th Five-Year Plan, which covers the period 2016–2020. That is almost double the $6.3bn it will spend in the current period, the 12th Five-Year Plan for 2011–2015, and brings its 10-year total to more than $18bn.
With the global biologics market also set to explode, multinational companies are finding increasing penetration in the emerging markets of India and China. Pharmaceutical majors like GlaxoSmithKline (GSK), Aventis and Merck and Co have already entered China’s biologics market.
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