China to speed up new medicines registration process

Almaty. October 10. Silkroadnews - China will speed up the process of registering new medicines to remain competitive in the pharmaceutical market, the Singapore newspaper The Straits Times reported.
“China is looking to speed up approvals for new drugs and plans to accept data from clinical trials carried out overseas, a potential boon for international drugmakers and patients who often face lengthy delays for new medicines to reach the market,” the report said.
It is noted that, according to the statement by China’s Cabinet of Ministers, such a step will allow China to approach the developed international markets in terms of using innovations. The move should help speed up the process of approval and registration of medicines in the world’s second largest pharma market, where the international drug manufacturers face growing competition with local producers, while the authorities are eager to reduce the prices to keep the goods competitive.
The companies that want to register drugs or medical devices for the first time will need to provide data on clinical trials related to any racial divergence related to the Chinese market.
According to the publication, China seeks to develop its pharmaceutical industry and move from generics to more innovative medicines and medical equipment.
China’s State Council added that these changes are expected to make China more competitive and help meet the clinical needs of nearly 1.4 billion people, for whom high prices and access to health care are of high importance.