China Aims to Consolidate Drug Market, Support Larger Role for Traditional Chinese Medicines

The central government of China made a statement on Sunday following a meeting of the State Council outlining plans to consolidate China’s large and fragmented drug market and support a greater role for Traditional Chinese Medicines.

The Chinese government hopes to improve “home-made” medicines in an effort to reduce reliance on drugs from overseas by:

  • providing support for pharmaceutical mergers and acquisitions
  • fostering industry leaders in order to solve the ‘scattered’ nature of the market
  • accelerating the development of China’s domestic drug industry to better serve the people’s healthcare needs, help build a healthier China and “unleash economic growth potential”
  • boosting safety controls and traceability of domestic drugs.

Additional details regarding the statement can be found here.

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