China to speed up approvals for some drugs

 01-Mar-16, Reuters 

China's drug regulator said it would accelerate approvals of new medicines, long a headache for pharmaceutical firms who complain it takes too long to get drugs to market.

Image: Aly Song / Reuters

The China Food and Drug Administration (CFDA) said in a statement that it would prioritize the approval of drugs with clear clinical value, including those that use advanced technology or innovative methods.

It added that certain categories of drugs would get priority, including those for children and the elderly, rare diseases, AIDS, malignant tumors and viral hepatitis.

China's drug market, the world's second largest estimated to be worth USD185 bn by 2018, is a magnet for global pharmaceutical makers, despite growing local competition and downward pressure on prices. 

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