Jul 31, 2024 09:33 PM
CHINA
Shanghai Unveils Plan to Boost R&D in Biopharma Sector
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The Shanghai Municipal People’s Government holds a press conference Tuesday where Vice Mayor Liu Duo introduced details about the city’s latest efforts to help develop the local biopharmaceutical sector. Photo: Information Office of Shanghai Municipality
The Shanghai government has unveiled a plan to reform its biopharmaceutical industry policies in an effort to promote the local sector and bolster innovation.
The Opinions on Supporting the Whole Chain Innovation and Development of the Biopharmaceutical Industry were released at a press conference on Tuesday. The reforms follow the State Council’s approval of the Whole Chain Support for Innovative Drug Development Implementation Plan on July 5, another mark of Shanghai’s support for drug and medical device development.
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- Shanghai's biopharmaceutical industry policies have been reformed to promote local innovation and development, in alignment with national plans.
- From 2021 to 2023, the industry's scale grew from 761.7 billion yuan to 933.7 billion yuan; manufacturing output also increased significantly.
- The new plan includes 37 measures focusing on R&D, clinical resources, foreign investment, and facilitating quicker market access, with specific support systems and international collaborations.
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What Happened When
- April 2021：
- Shanghai issued guidelines to promote development in the local biopharmaceutical sector.
- Since 2021：
- Shanghai approved 19 first-class innovative drugs and 25 third-class medical devices for market release.
- From 2021 to 2023：
- The scale of Shanghai’s biopharmaceutical industry increased from 761.7 billion yuan to 933.7 billion yuan. The sector’s manufacturing output grew from 171.2 billion yuan to 186 billion yuan.
- By the end of May 2024：
- Shanghai's guidelines issued in April 2021 remained effective.
- First half of 2024：
- The sector’s output reached 93.5 billion yuan, an increase of 3.7 billion yuan from 2023.
- July 5, 2024：
- State Council’s approval of the Whole Chain Support for Innovative Drug Development Implementation Plan.
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