Chinese drug developers to compete with multinational drug companies, give rise to more innovation.
China, with its reformed priority review and approval processes, is supporting biotech revolution in the country and thereby allowing domestic drug developers to compete with well-established multinational counterparts.
Against this backdrop, China’s rise will result in more innovation and have the highest positive impact on the pharmaceutical industry in 2019, says GlobalData, a data and analytics company.
According to GlobalData, the number of cancer patients is on the rise in China and nearly 10,000 diagnosed melanoma cases were recorded in 2017. As a result, the Chinese government is eager to provide better and more affordable cancer care to its citizens.
To capitalise on the opportunity, multinational pharma giants Bristol-Myers Squibb and Merck had already received approval for two programmed cell death-1 (PD-1) inhibitors, Opdivo (nivolumab) and Keytruda (pembrolizumab) in China in June and July 2018, respectively.
Edit Kovalcsik, pharma analyst at GlobalData said, “Chinese drug developers are lining up their branded products ready to take on competition with Western companies, not only in China, but around the world.”
Recently, China’s National Medical Products Authority (NMPA) conditionally approved PD-1 checkpoint inhibitor Tuoyi (toripalimab) monoclonal antibody injection for the treatment of melanoma from Chinese biotech firm Shanghai Junshi Biosciences.
Kovalcsik added, “The product could be the first locally developed drug launching in China in competition with the already approved global market-leading Keytruda. The approval is an important turning point in the history of Chinese drug development, which is moving away from producing ‘me-too’ drugs aimed at the domestic market to independently develop brands that will compete with Western developers’ drugs.”
One such Chinese biopharmaceutical company looking to compete on a global scale is BeiGene, with its oncology candidates: Bruton’s tyrosine kinase (BTK) zanubrutinib and PD-1 inhibitor tislelizumab, both of which were granted priority review status in for patients with relapsed/refractory mantle cell lymphoma and classical Hodgkin’s lymphoma respectively.
Kovalcsik concluded, “The government-supported Chinese biotech revolution will bring forth many Chinese drug developers to compete with well-established multinational drug companies. Simultaneously, the massive untouched market holds opportunities for foreign investors. By increasing competition, China’s rise will impact the global pharmaceutical industry and as a result, it could give rise to more innovation.” [APBN]