Anxious drug company bosses pile on innovative drugs

The newly revised "Drug Administration Law" was approved by the Standing Committee of the National People's Congress on August 26, one of the major highlights is to encourage drug innovation and speed up the listing of new drugs. This includes optimizing the review process, improving the efficiency of the review, and changing the clinical trial approval system previously implemented for many years to a tacit permission system. With the introduction of the Drug Administration Law amendments almost simultaneously, a large number of representatives of domestic pharmaceutical companies attended the 2019 National Pharmaceutical Industry Information Conference held in Lianyungang City on August 25-26, "innovative drugs" is also a hot topic for the attending drug company bosses and pharmaceutical experts. Regarding innovative drugs, the interactive connection between policy and market has never been so close.

From the government's perspective, in the face of accelerated aging and the high incidence of chronic diseases and cancer, the huge market demand has been forcing pressure on the supply of innovation in China's pharmaceutical market; from the enterprise's perspective, in the face of new policies such as the "4+7" pilot centralized procurement of drugs with quantity and dynamic adjustment of the national medical insurance catalog, which have been frequently launched since last year, the low gold content of In the face of the new policies such as the "4+7" centralized drug procurement pilot and the dynamic adjustment of the national health insurance catalogue, the previous strategy of competing for market scale with generic and complementary drugs and exchanging market share with drug rebates has been seriously squeezed, and now it is difficult to survive without innovation.