Chinese pharmaceutical companies are conducting more overseas clinical trials with the intention of going public in more foreign markets.
Targeted therapy is a type of cancer treatment that uses drugs designed to "target" cancer cells without affecting normal cells. And for drug makers, finding new targets and developing new drugs for them have become a key battleground in the industry.
Hansoh Pharmaceutical in east China's Nanjing City, which made its IPO in Hong Kong in 2019, is one such firm focusing on new targets.
A necessary move, the firm's CEO Tang Hongren says, to be more competitive in the global market.
"A higher requirement for us is to make some path-breaking and original innovations from scratch. More specifically, those target related molecules have not yet entered the stage of clinical development, and the relationship between them and diseases still needs to be further confirmed," said Tang Hongren, CEO of a pharmaceutical enterprise.
Besides research and development, drug companies are also carrying out more global clinical trials. Meanwhile, Chinese pharmaceutical firms are increasingly going public overseas.
"If China's pharmaceutical industry goes global, it means that Chinese pharmaceutical enterprises will conduct research and development for new drugs under international unified standards, and everyone adopts the same standards and rules. If Chinese drugs do well, then more and more drugs will go abroad," said Lu Shun, director of Lung Cancer Professional Committee of Chinese Medical Association.
Data from China News of Drug Information Association show in the first half of this year, Chinese pharmaceutical firms registered more than 30 clinical trials overseas.
As of December 31, 2020, there were three Chinese firms listed on the NASDAQ: Genetron Holdings Ltd., BeiGene Ltd., and Zai Lab Ltd.
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