Shanghai International Biopharmaceutical Industry Week will be the city’s latest effort to connect industry players, researchers and financial institutions and promote innovative treatments.
Open on October 11, the four-day event will feature top scientists and entrepreneurs, providing strategic links between national and international players.
The week-long event is set to become an annual industry gathering with iconic geographically influence, according to Shanghai Science and Technology Association deputy director Liu Ping.
Running from October 11-14, it is co-hosted by the Shanghai Center of Biomedicine Development, E Fund Asset Management Co, Shanghai Pharma Group, Fosun Group and ZJ Group and includes a main forum and more than 20 industry forums. in various districts. and industrial parks.
An internationally influential industry forum that brings together industry gurus, research minds and financial institutions would further strengthen Shanghai’s presence in the biopharmacy segment, Liu said.
Last year, Shanghai’s biopharmaceutical industry was valued at 600 billion yuan ($ 93 billion) with gross industrial output of 140 billion yuan.
Shanghai’s three-year biopharmacy action plan aims to increase annual industrial production to 180 billion yuan and become a leading industrial hub.
Import procedures for medical devices should also be relaxed. Incentives will be given to innovative chemical drugs, biopharmaceutical and traditional medicine.
The city is also strengthening research work on new pathological targets, new molecular mechanisms and entities and new treatment methods.
Shanghai also aims to improve soft power and relevant industrial services, and prioritize research transformation channels to unleash more growth opportunities in the sector, said director Li Jia, of the development commission. Shanghai Science and Technology Association’s biopharmaceutical industry.
Local biotechnologies have proliferated in recent years thanks to the acceleration of the review system for new drugs and the prioritization of new treatments, giving rise to new types of services such as contract research, contract manufacturing and financial services.
Deloitte’s latest survey of more than 150 pharmaceutical and healthcare executives and investors suggests more than 60% expect a rather bright outlook and forecast more than 10% growth in 2021.
Fifty-seven percent say they have a better outlook for the Chinese market compared to the pre-pandemic times and may further elevate their focus on China.
With the government’s focus on innovation and first-class products for China, the timeline for new drug registration and market access is expected to be further shortened and accelerated as part of the dual strategy. circulation, he stressed.