In a recent development, China was able to work through strict trade regulations as the country was able to complete a milestone of being able to access foreign drugs and other life-saving treatments ahead of the United States. What is even more impressive is the fact that China was able to achieve this historic milestone in less than a year of negotiations.
China announced the milestone on Tuesday. The country confirmed that it is now able to procure drugs that are used in treatment for anemia ahead of the United States and other markets. These life-saving drugs are from FibroGen Inc. and AstraZeneca Plc. This is a historic feat considering the fact that Chinese regulators were faced with a huge backlog of foreign drugs that are all available elsewhere globally.
China also achieved another historic milestone in April when the country approved HPV vaccines manufactured by Merck & Co. What is more stunning about the Merck deal is the fact that Chinese regulators just spent nine days of regulatory inspection and tests before approving the HPV vaccine called Gardasil 9. On the other hand, Gardasil 9 has been widely used worldwide as a standard treatment for HPV since 2014.
A couple of months following the Merck deal, China signed another deal with Hutchinson China MediTech Ltd. The deal involves the latter to provide China with Fruquintinib, a colorectal cancel capsule. This deal marked the first time a medication manufactured domestically was approved in China ahead of Europe and the United States.
AstraZeneca and FribroGen's roxadustat medication will be used to treat anemia, more specifically those that are diagnosed with chronic kidney disease and are dependent on dialysis. Many in the drug industry are seeing a potential sales value of $1 billion once the drug is widely disseminated in China. That is estimate does not include sales factors once the drug hits the global market.
According to Bloomberg, China rapid reinvention of its regulatory practices when it comes to foreign drugs comes as a response to the growing demand from the country's middle class to have stable access to the best drugs and health care products. Before this radical change, most patients are forced to travel outside of China in order to get life-saving medications. Now, Beijing is more determined to bring these products closer to its citizens.
