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China Daily / 2020-06 / 30 / Page015

Drugmakers step up efforts for innovative product R&D

By ZHENG YIRAN | CHINA DAILY | Updated: 2020-06-30 00:00

Favorable policies spur transformation as profit margins for generic drugs shrink

Pharmaceutical enterprises from home and abroad are stepping up efforts in innovative drug research and development as the domestic innovation environment constantly improves and profit margins for generic drugs gradually shrink, said industry experts.

Zhang Lichao, a senior researcher at Guosen Securities, said both domestic and international pharmaceutical firms in China are undergoing innovative transformation. They have stronger innovation momentum, and have been constantly expanding investment in R&D.

"With favorable policies for innovative drugs and reducing profits for generic drugs, innovation has become the only way for the development of high-quality pharmaceutical enterprises," Zhang said.

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