AstraZeneca Plc expects new and innovative treatments to contribute 60% of its China revenue by 2024, up from just a fraction now, as the country’s push to bring novel therapies faster to the market opens up opportunities for the global drugmakers.
Sales from newer drugs will likely overtake what the Cambridge, England-based drugmaker earns from off-patent medicines in the next five years, said Leon Wang, its executive vice president overseeing international markets, in an interview in the eastern Chinese city of Wuxi.