China Pharmaceutical Companies and Drugs Pipeline Insight 2023 Highlights:
Chinese drugs makers have advanced significantly in the global pharmaceutical market over the previous two decades, becoming reliable partners for drug development and helping make China as another key region in the global pharma market. BeiGene, Innovent Bio, Akeso, and Junshi Biosciences are among the country’s leading pharmaceutical market players. Many Chinese pharmaceutical companies have made a name for themselves in the global drug market by developing breakthrough medications and therapies that have integrated advanced science and medicine technologies and platforms. Based on current pharmaceutical market trends in the country, it is considered that China has the ability to compete with the major markets of the US and EU, becoming even more prominent and visible on a global scale.
For as long as anybody can remember, the US has been the largest pharmaceutical market globally. Even now, it accounts for the lion’s share of drug research and development, and it has undoubtedly been the epicenter of a lot of drug discoveries. However, China has gained momentum in recent years, and its pharmaceutical products are increasingly gaining access to international markets, allowing them to compete on a global level with other branded products in major pharmaceutical regions, such as that of the US and EU. Research and development and commercialization collaborations of international companies with Chinese pharmaceutical and biotechnology companies have played a significant role in this regard. For instance, in May 2023, Eli Lilly announced a partnership with Xtalpi, a startup that employs an integrated AI technology platform to speed up biopharmaceutical research, to discover and develop medications for an unidentified disease that currently has no therapeutic interventions.
Such strategic international collaborations between Western pharmaceutical companies and homegrown Chinese firms present a number of possibilities, including the prospect of both profit and risk sharing for both sides. China’s indigenous PD-1/PD-L1 inhibitors, in particular, have drawn international attention. Cadonilimab, a bispecific antibody directed against the PD-1/CTLA-4 receptors produced by Akeso, was approved by the Chinese drug regulatory authorities, making it the first dual immune checkpoint inhibitor to be approved anywhere in the world. Cadonilimab is currently exclusively authorized in China for the treatment of cancer. Akeso has signed agreements with Pfizer and Summit Therapeutics among others with respect to the development clinical evaluation of Cadonilimab.
Aside from the companies, the Chinese government has also begun to formulate policy framework that would propel China to the forefront of biotech research. The government has been seeking homegrown modernization and developing procedures that are likely to increase development opportunities for international pharmaceutical companies in the domestic drugs market. One such initiative is the manner in which pharmaceuticals are reimbursed in the region. Western pharma companies face intense competition in the domestic market, with Chinese firms obstructing entry to the National Reimbursement Drug List (NRDL), the primary route for foreign pharmaceutical products to enter the Chinese market. This has also encouraged Western-domestic collaboration, resulting in increasing investment in China’s pharmaceutical industry.
Over 5000 pharmaceutical drugs and therapies are now under development in China, created by both domestic and foreign drug companies, making the region one of the most popular destinations for clinical trials. This is due to the availability of raw materials at lost costs for drug development and research, as well as the presence of a huge morbid population willing to participate in clinical studies. As a result of China's desire to become a prominent player in the global pharmaceutical sector, a number of positive variables have shaped the path for China to take, increasing interest in domestic drugs research and development. As a result, China is increasingly becoming important in generating a global competitive climate in the pharmaceutical sector.
Without a doubt, China is growing as a major player in the global pharmaceutical market and a variety of factors are driving its growth. Our report details the domestic pharmaceutical and life sciences companies that are actively involved in medication research and development, as well as the license agreements they have entered into with both domestic and international corporations. Furthermore, we provide information on their products in development, including the stage of development, and assets for which the companies are seeking collaborators. These are seen to be factors that can assist organizations in making strategic decisions regarding collaborations and deals with Chinese companies. The Chinese pharmaceutical market is dynamic, with numerous unanticipated potential for future expansion, making it an ideal market to explore.
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