Shanghai to support local biopharma firms’ overseas push, regulatory product compliance

Quick Summary:

The initiative aims to generate about US$7 billion from medical product exports by 2027.

Shanghai’s latest action plan aligns with mainland China’s broader endeavour to move forward the country’s biopharmaceuticals industry, reducing reliance on foreign products.

This initiative aims to generate 50 billion yuan (US$7 billion) from medical product exports by 2027, with up to three local companies expected to achieve more than 10 billion yuan in annual overseas sales.

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Article Details

Author / Journalist: Wency Chen

Category: Business

Markets: Hong KongChina

Topics: Shanghai’s Research Action Drug Municipal Biopharmaceutical Firms Plan Products Local Government

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 07:00:15 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 215 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23357135

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