Recognizing The Value Of Biotech Partnerships In China
By Michele Garufi
China is a huge potential market that is increasingly open to biotechnology innovations. Its pharmaceutical market operates under regulations that are closely aligned with world standards, and the companies making innovative inroads into the market are fueled by regional and international biotech finance. One of the consequences of this is that deals between companies based in China and non-Chinese firms increasingly involve development or co-development components. It has taken a while to recognize the value of those deals to both partners, but this is starting to happen. Since joining the International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use (ICH) in 2017, China’s regulatory standards and protocols for implementation have become increasingly aligned with those elsewhere in the world. This has created new collaborative opportunities for innovative companies outside China with drugs in development.
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