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China investing USD3.2 billion in drug development program and speeding up approvals


A large investment program is launched by the China’s National Health and Family Commission (NHFPC) to enhance drug development against cancer, cardiovascular and cerebrovascular diseases, neurodegenerative disorder, mental disorders, diabetes, autoimmune disease, drug resistant pathogen, tuberculosis and others.

On the other hand, given to the still unmet medical needs of the Chinese population, the China Food & Drug Administration is speeding up innovative medical device approvals by creating a specific unique division. The objective is to shorten the whole approval process to 160 days.

Source: Seeking Alpha                                                                Publication Date: 2014-03-28