An average overall price reduction of 48% for insulin products in China is expected to generate annual savings of $1.4bn through 2023, but multinational pharma firms will be hit hard by the bidding process.

China has signaled that it will offer a more level playing field to foreign players as part of a bid to join a major regional trade pact but some see the gesture as offering little real relief and high hurdles remain.

Sandoz’ partnership with China’s Gan & Lee covering three biosimilar insulin products continues to make progress, with the conclusion of a pair of Phase III trials involving a proposed biosimilar to Lantus (insulin glargine).

From bringing innovative new drugs to global markets, to record-setting fundraisings and initial public offerings, five trends are emerging in China's health sector that are worth closely watching in 2021.