The 20th annual BIO International Convention is wrapping up in Chicago. Experts and leaders from leading global biotechnology, biologics and investment companies gathered together to discuss the opportunities and challenges in the biologics industry. A large China Food and Drug Administration (CFDA) delegation led by Deputy Commissioner Bian Zhenjia participated in a half-day session dedicated to developing a world-class therapeutic biologics industry in China.
There has been a shift in recent years in the usage of large-molecule biologics in the global drug market. The market share of biologics has grown from 13 percent in 2006 to 17 percent in 2010. Despite this trend, the market share of biologics in China’s drug market has been around 5 percent over the past five years, prompting the need by industry and regulators to accelerate the sector’s development. In response, BIO and the R&D Based Pharmaceutical Association Committee (RDPAC) have produced a White Paper titled Building a World-Class Innovative Therapeutic Biologics Industry in China.