China Woos Global Drugmakers With Promise of Swift Approvals
- China invites global drugmakers to set up production units
- Ease of access follows US move to check Chinese biotech firms
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China is wooing global pharmaceutical giants with the pledge of faster approvals for innovative medicines and local production, as Beijing seeks to open its healthcare sector wider amid US efforts to contain its biotech ambitions.
The National Medical Products Administration will align its regulatory framework further with international standards to facilitate multinational clinical trials, its Commissioner Li Li told reporters at a briefing in Beijing on Friday. The regulator will also review and approve innovative medicines as swiftly as in developed markets.