China Zero Tariffs For Cancer Drugs Precede High-Stakes Trade Talks
China is opening up its domestic pharma market with an import duty exemption on 28 drugs including anticancers, effective May. The duty cuts came ahead of the latest trade talks between the US and China, though Chinese officials have underscored that countries like India could also stand to gain.
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From AI to IPOs, from access models to mobile payments, China’s biopharma sector increasingly became a global leader in biotech financing and digital health innovation in 2018. Here is Scrip's pick of eight key events that captured the major developments in China’s dynamic, highly fluid biopharma commercial scene throughout the year.
First comes the approval, then market access. A rapid regulatory clearance for BMS’s Opdivo in China not only pioneers a new and potentially huge market for immuno-oncology treatments, but may potentially set an example in how to expand market access for many new therapies waiting to get into the country, amid multiple recent regulatory and policy changes.
China approves first immuno-oncology drug in the form of BMS’s Opdivo for lung cancer, opening up a new potentially huge market for the class, but much will depend on pricing and reimbursement policies.