India can benefit from new drug law in China

China's revised drug law is set to provide a major fillip to the Indian pharma industry. As cancer patients in China gear up to import drugs not registered with the Chinese regulators, the move is expected to be a shot in the arm for Indian oncology drug majors, reports The Pharma Letter’s local correspondent.

Estimates show the cancer drug market in China is expected to grow to $25-$27 billion over the next five years.

China's top legislature, the Standing Committee of National People's Congress, passed the revised law this August to enhance management and supervision of the pharmaceutical market. New changes to the law take effect from December 1.