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China Daily / 2021-04 / 08 / Page015

Global pharma giants step up alliances in Chinese market

By ZHOU WENTING in Shanghai | China Daily | Updated: 2021-04-08 00:00

Multinationals accelerating cooperation for enhanced growth, breakthroughs

Research and development collaborations between multinational pharmaceutical companies and innovative local Chinese biotech enterprises have begun to bear fruit as some have already jointly developed products in the country that have benefited patients overseas.

Today's China, the world's second-largest economy and medical consumption market, is not merely a sales opportunity for multinational pharmaceutical giants but also a major platform for medical research and development, said industry insiders.

Despite challenging international relations, global pharmaceutical enterprises, mainly from the United State and Europe, have been accelerating cooperation with Chinese biotech research startups and R&D institutions at a record pace.

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