US pharmaceutical major Merck, Sharp & Dohme Inc., (MSD, NYSE: MRK) has officially registered a unit in the Lecheng pilot zone of Boao, Hainan province, marking a significant milestone as the first multinational company to obtain a business license in the city.
Hainan Boao Lecheng International Medical Tourism Pilot Zone’s preferential policies
The Hainan Boao Lecheng International Medical Tourism Pilot Zone has been a hub for medical tourism and innovation since its inception in 2013. The zone has received 63 preferential policies, bolstering its position as a center for medical tourism. In December 2018, the State Council granted the People’s Government of Hainan Province the authority to review and approve a limited number of clinically urgent imported drugs, excluding vaccines, further enhancing the zone’s attractiveness for medical tourism and clinical research.
Partnerships and Clinical Advancements
The zone has established partnerships with nearly 80 drug and device manufacturers from 16 countries, introducing nearly 300 special approved drugs and devices. In 2022, a total of 25 clinically urgent imported drugs were permitted for use outside the zone, benefiting 2596 person times. The number of drug varieties and person times increased by 93% and 159% year-on-year, respectively. Additionally, 9 pilot products, including 3 drugs and 6 devices, were approved for marketing based on real-world evidence, demonstrating the zone’s commitment to accelerating access to innovative medical treatments.-Fineline Info & Tech
