AstraZeneca exec bullish on China's pharma industry

China's clear message to support the development of innovative drugs has buoyed the spirits of foreign pharmaceutical companies and reinforced their commitments to align their global R&D capabilities with China's robust pharmaceutical ecosystem, said a senior executive.

"We've received strong signal from the policymakers that they are keen to foster innovation in the pharmaceutical industry. Now, we're hoping to see this vision translate into concrete policies that can truly assist us in our efforts," said Hu Yiqing, vice-president of AstraZeneca China and head of its rare diseases business unit.

Hu's comments came after Premier Li Qiang urged more effective guidance for the application of high-quality, innovative medicines, during tours of a bio-tech enterprise and an international innovation center in Beijing earlier this month.

"We have a very robust pipeline of nearly 10 new rare disease products or indications that are set to hit the Chinese market in the next five years," Hu said.

Hu called on the government to further strengthen its support mechanisms, including enhancing rare disease screening programs and ensuring broader insurance coverage for these often-costly treatments.

China's medical insurance spending on innovative drugs has grown significantly, increasing by 40 percent annually. In 2024, related spending reached 3.9 times the amount recorded in 2020, data from the National Healthcare Security Administration showed.

In particular, Hu noted that China's rare disease landscape presents an opportunity for global pharma companies to accelerate the development of novel therapies.

By tapping into the innovative mindset of Chinese expertise and the sheer scale of the local patient population, companies can gain various insights to strengthen their global pipelines, she added.

China's pharmaceutical industry is now the second largest in the world, accounting for about 30 percent of the global total of innovative drugs in research, Yang Sheng, deputy head of the National Medical Products Administration, told a press conference on Aug 22.

"Currently, Chinese experts are still at the stage of participating in international phase-3 clinical trials," Hu said. "But as they take that first step, we expect them to progress to leading their own investigator-initiated trials, and ultimately, to spearheading the global R&D and development of innovative rare disease drugs."