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Pharma Missing Out From Market Access Challenges In China: EU Group

Politicized Environment 'Alarming'

 
• By Brian Yang

Slower approvals for foreign drugs, a volume-based procurement scheme and localization requirements caused nearly 80% of respondent European pharma firms to miss out on opportunities in China, where they also continue to decouple from headquarters in a “in China-for-China” strategy, a survey from a prominent EU business group shows.

EU CHAMBER IN CHINA BUSINESS CLIMATE SURVEY 2021
EU PHARMA MISSES OUT IN CHINA DUE TO ACCESS BARRIERS, SURVEY SHOWS • Source: European Chamber of Commerce in China

Despite China notably accelerating new drug reviews and approvals, the government is giving priority to domestically developed innovative drugs, causing many foreign companies to cry foul of an uneven playground, a newly released business climate survey shows.

The survey, conducted in February of its 538 member companies by the EU Chamber of Commerce in China (EUCCC), was...

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