Global EditionASIA 中文雙語Fran?ais
China
Home / China / Health

Research and development innovations poised to cure more ills

By David Ho in Hong Kong | China Daily | Updated: 2019-04-10 09:28
Share
Share - WeChat

In mid-December, Shanghai Junshi Biosciences raised $394 million after pricing a Hong Kong initial public offering at the bottom of a marketed range.

At the same time, the Shanghai company's new drug Toripalimab was conditionally approved for the treatment of melanoma, becoming the first made-in-China immuno-therapy treatment for cancer to be approved by the National Medical Products Administration.

For Lewis Ho, a partner in the life sciences practice at law firm Loeb & Loeb, the start of the nation's healthcare research and development can be traced to 2006.

At the time, Ho was working with GlaxoSmithKline in Shanghai, and in 2007, GSK was one of the first multinationals to open a research and development center in China, focusing on neurodegenerative diseases.

By 2012, a report by management consultants McKinsey & Company said that 13 of the top 20 global drugmakers had set up R&D centers in China since 2006.

Ho said: "This sparked a new wave of research in the country. Government, academic and commercial organizations needed researchers. Chinese scientists were coming back from abroad and discovering a whole new world. Many of them went on to set up their own companies."

Funding remained a problem, particularly since the Hong Kong Stock Exchange, a big source of capital-raising for many companies in Asia, did not allow listings from companies that had not yet made a profit. But that rule changed last year.

"Many of these companies are maturing. It's a great time for the Hong Kong Stock Exchange to catch the next wave," Ho said.

Hong Kong Exchanges and Clearing posted new rules in April last year, which included allowing listings by biotech companies that had yet to make any money.

As of Dec 24, five such companies had listed on the Hong Kong bourse under the new rules. Another eight are in line for listing consideration.

HKEX has also formed a Biotech Advisory Panel - comprising industry experts - to advise and assist in the review of listing applications from biotech companies applying under the new regimen.

Ho said the first batch of companies that "dipped their toes in the HKEX pond" are safe bets. All of them have products in phase 3 clinical trials.

He expects that as the market matures and investors become more familiar with the biotech scene, more companies with early-stage products will start listing.

Ho said biotech companies on the Chinese mainland are choosing to list in Hong Kong because of the market size and the speed at which listings are approved.

"With the Shanghai Stock Exchange, it is harder to estimate when a listing will be approved, due to regulatory uncertainty, longer processing time and priority treatment for different industries. In Hong Kong, you get a sense of the IPO in about six months to a year," he said.

"More mature markets, like the Nasdaq Stock Exchange (in the United States) are too big for these emerging companies," he added.

"The Chinese government wants to push its biotech industries to succeed. Twelve years ago, there were no Chinese companies in the top 100 - now, there are about three on that list, with interesting products to launch," Ho said.

The country has also been revamping its regulatory system. In September, the China Food and Drug Administration was restructured and renamed the National Medical Products Administration.

The NMPA has introduced faster approvals for new drugs and added a priority list of 48 drugs for rare diseases. Those chosen were approved by the authorities in the United States, the European Union and Japan, but have not been registered in China for the past decade.

"The registration and approval process is happening a lot faster than before. Some companies are finding that they have been given approval two years before they expect it. So now there is a mad scramble to recruit sales representatives and for sales preparation," Ho said.

The inclusion of drugs in reimbursement programs is an area that needs to be improved.

The national reimbursement drug list determines the framework for the drugs covered by insurance at national level. It consists of two categories: List A drugs that are clinically necessary and sufficiently affordable to be fully reimbursed, and List B drugs that are newer, more expensive and require patients to pay 10 to 30 percent of the price.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 好男人社区www在线观看| 欧美日韩亚洲一区二区精品| 国产真实乱对白精彩| 一区二区高清视频在线观看| 最近中文字幕更新8| 人妖视频在线观看专区| 草莓视频在线免费播放草莓视频在线免费播放 | 国产精品一区电影| wwwjizzjizz| 日本乱人伦aⅴ精品| 亚洲人成亚洲人成在线观看| 男女过程很爽的视频网站| 国产你懂的在线观看| 天堂资源中文在线| 大肉大捧一进一出小视频| 中文字幕在线观看第二页| 最新中文字幕在线资源| 亚洲欧美日韩在线不卡| 精品一区二区三区影院在线午夜| 国产亚洲精品免费| 中文乱码字幕午夜无线观看| 在线观看网站污| 一级做a爰片欧美aaaa| 日本不卡免费新一区二区三区| 亚洲午夜精品久久久久久人妖| 理论片福利理论电影| 向日葵视频app免费下载| 香蕉高清免费永久在线视频| 国产精品免费观看调教网| 99国产精品欧美一区二区三区 | 免费观看黄色的网站| 国色天香社区高清在线观看| 一级大黄美女免费播放| 无码精品一区二区三区免费视频| 五月婷婷一区二区| 毛片永久新网址首页| 免费大片黄在线观看| 美女扒开内裤羞羞网站| 国产剧情片视频资源在线播放| 亚洲一区二区三区在线网站| 国内最真实的XXXX人伦|