The Union Budget 2018 was presented on February 1, 2018.
Here is how industry experts and leaders from across the A series of significant progress obtained in the biotechnology field over the years has driven the biopharmaceutical industry to seize the high ground for future competition with an innovative development attitude. China’s biopharmaceutical industry has shown unparalleled market prospects. From the perspective of global biological quantity layout, the U.S. has the largest number of biological drugs, followed by China. Behind this, China’s favorable pharmaceutical policy, market environment, and return of overseas R&D personnel, etc. have played the promoting role.
Furthermore, biotech drugs have occupied significant shares in each therapeutic area, accounting for one-third among the top 30 drugs by global sales. The market size of China’s biological drug industry was RMB 493.7 billion in 2017, and is expected to reach RMB 853.2 billion by 2020, with compound growth rate of 18.1%, faster than other areas of the pharmaceutical market.
This story is from the March 2018 edition of Pharma Bio World.
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This story is from the March 2018 edition of Pharma Bio World.
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