Regulators, pharmaceutical companies, researchers will adopt global standards
China will continue to intensify international exchanges and cooperation in drug supervision to promote the domestic application of new medicines developed overseas to meet demand, China’s top drug regulator said on Thursday.
The drug authorities will also encourage the domestic pharmaceutical industry to improve its capacity and com- petitiveness to promote the international visibility of Chinese medical and pharmaceutical products, Wu Zhen, viceminister of the China Food and Drug Administration, said at the opening ceremony of the BRICS Meeting on Drug Regulatory Collaboration in Zhengzhou, Henan province.
On June 19, the administration announced it joined the International Council on Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use, which focuses on
China has great pharmaceutical production capacity, so it can provide support to the health of the people in BRICS nations and other countries.” Wu Zhen, vice-minister of the China Food and Drug Administration
guidelines for worldwide pharmaceutical development.
“Joining the council means the Chinese drug regulatory authorities, pharmaceutical industry and research and development institutes will gradually adopt internationally accepted standards and guidelines, actively participate in the formulation of international rules and pro- mote quicker domestic application of new drugs developed in other countries,” Wu said.
China is the second-largest market for pharmaceutical products in the world. Annual revenues of the pharmaceutical industry in China exceed 2.5 trillion yuan ($368.6 billion), and annual exports of pharmaceutical products exceed 13.5 billion yuan, Wu said.