Prime Highlights
- China is shifting from producing generic drugs to developing advanced, innovative therapies, gaining worldwide recognition.
- Leading companies like Hengruiand BeOne are achieving major breakthroughs in cancer treatments and global sales.
Key Facts
- BeOne’s zanubrutinibgenerated 18.7 billion yuan (US$2.6 billion) in 2024, becoming the top-selling drug in China and second worldwide in its category.
- The China Pharmaceutical Innovation and Invention Index (CPIII)ranks 30 mainland companies for their achievements in drug invention and commercialization.
Background:
China’s pharmaceutical industry is attracting global attention as it shifts from producing generic drugs to developing innovative therapies. Analysts say the country’s research capabilities and infrastructure now rival those of top international pharmaceutical companies.
The China Pharmaceutical Innovation and Invention Index (CPIII), released on December 7, showcases the achievements of Chinese firms in drug development and commercialization. This is the first time the index has been released as a standalone ranking, following 14 years of global pharmaceutical innovation reporting.
Jacqueline Poot, head of Idea Pharma’s strategic consulting and analytics division, pointed out that Chinese companies are more cost-effective in bringing new medicines to market. While the worldwide average development cost is around US$5 billion, companies like Hengrui can do it for roughly US$1 billion. Many early-stage biotech firms in China are also running extensive and large-scale clinical trials, a practice uncommon in Europe or the United States.
The index placed Jiangsu Hengrui Pharmaceuticals at the top, followed by BeOne, based on innovation and invention metrics. In 2024, zanubrutinib earned 18.7 billion yuan (US$2.6 billion), making it China’s top-selling drug and second in the world in its category.
Celia Deng, SAI MedPartners’ president for Asia, emphasized that China is becoming an important destination for international companies seeking new cancer therapies. “The country is moving beyond generics and copycat drugs to develop truly innovative treatments, including antibody-drug conjugates and CAR-T therapies,” she said.
Other leading firms, such as Sino Biopharmaceutical, Innovent Biologics, and Hansoh, along with emerging companies like Alphamab Oncology and Harbour BioMed, are gaining recognition on the global stage.
With government backing and more global partnerships, China’s pharma industry is becoming a world leader.
