‘Made in China’ Drugs

‘Made in China’ Drugs‘Made in China’ Drugs

China is turning its industrial might to making more of its own drugs for a vast and aging population. Given the 10 years or more it typically takes to bring a new medicine to the market, original “Made in China” treatments won’t arrive overnight, but multinationals are already encountering competition from local generic drugs that look set for a quantum leap in quality, Reuters reported. China is the world’s second biggest drugs market behind the United States, and fast food, smoking and pollution have fueled a rise in cancers and chronic heart and lung diseases. The country also has the highest diabetics in the world, with numbers expected to hit 151 million by 2040 from 110 million today, says the International Diabetes Federation. Pivotal to the transformation of the market is the China Food and Drug Administration, that promised to speed up approval of innovative new drugs, which can take 5-7 years, while cracking down on substandard local generics.