How could China's new draft proposal benefit foreign companies?

About a month ago, the Chinese Food and Drug Administration (CFDA) issued a draft proposal about easing the process for imported drugs to get into China, ie, ‘amended management for imported drugs registration.’

Ten days later, it gave the nod to AstraZeneca’s (LSE: AZN) lung cancer drug Tagrisso (osimertinib), reports The Pharma Letter’s local correspondent Wang Fangqing.

The sign is clear - China wants more imported drugs to meet the unmet needs in the domestic market. The dramatic move from the previous time-consuming procedures immediately stirred hot discussions in China’s pharma industry. Recently in Shanghai, senior managers from multinationals, venture capitals, contract research organizations and startups held an internal meeting to collect ideas to submit to the CFDA before April 21, the deadline for public opinions on the draft.