China's biopharma industry a late starter, but making good progress ' now valued at $8 billion; report

The development of biologic drugs has gradually become the key focus of all drug companies worldwide, large or small, major or start-up. Major pharmaceutical companies, which used to almost exclusively focus on small-molecule drugs, are now paying more attention to biologics. Growing numbers of small biopharma companies also focus on discovery and development of novel biologic drugs or niche technologies which are increasingly licensed in by major biopharma companies.

Although starting relatively late, the biopharma industry in China has also been experiencing fast development in the recent decade. The improvement of the industrial infrastructure through the investment of a significant amount of capitals by Chinese government at various levels, the influx of a large number of returnees, increasingly readily available funding from various sources and the entrance of a growing number of experienced multinational companies all have contributed to the fast growth of the biopharma industry in China.

Indeed, just earlier this month, it was revealed that China's government is putting together plans for strategic industries, included the biopharmaceutical sector, with support of some $1.5 billion mooted (The Pharma Letter August 12).