China: China's pharmaceutical industry speeds up innovative breakthroughs in H1.

Storyline China's pharmaceutical industry speeds up innovative breakthroughs in H1 New data from China's Ministry of Industry and Information Technology shows that the country's pharmaceutical industry accelerated its progress in new drug approvals, smart manufacturing and exports in the first half of the year. According to the data, in H1 China approved 38 innovative drugs for marketing, 31 of which were domestically developed. China has a complete pharmaceutical industrial chain and is the world's largest producer of active pharmaceutical ingredients making about 40 percent of the global total. In the first half of the year, out‑licensing deals for Chinese innovative drugs reached $110 billion U.S. dollars. The value of China's pharmaceutical exports, meanwhile, grew 9 percent year on year, with high‑value‑added products making up nearly 20 percent of the total exports. By the end of last year China had more than 4,700 innovative drugs in the pipeline, roughly one‑third of the global total, and more than any other country. [Restrictions: No access Chinese mainland]