A State Council executive meeting, chaired by Chinese Premier Li Qiang, reportedly approved an “Implementation Plan for Full Industry Chain Support of Innovative Drug Development” in late March. The full document has yet to be publicly disclosed.
A draft of the plan had circulated among industry social media circles in March 2024, without official release. Following this, provincial governments in Beijing, Guangzhou, and Zhuhai, among others, unveiled policy proposals to stimulate local innovative drug development, which were reportedly in line with the unofficially circulated draft. In June, the State Council issued a notification concerning key medical system reforms for 2024, aiming to guide local governments in deepening medical reforms.
According to sources, last week’s meeting highlighted the government’s intention to enhance policy support across the entire industry chain for innovative drug development. This includes coordinating policies on price management, medical insurance payment, commercial insurance, and drug allocation and usage. Additionally, policies will be designed to improve and support investment and financing conditions for biotech companies. The review and approval mechanisms are set to be refined, and medical institution assessment mechanisms will be adjusted. The overarching goal is to encourage the local industry to develop breakthrough innovative drugs.- Flcube.com
