Published on : Apr 07, 2015
The president of ChinaBio, a Shanghai-based consultancy, Greg Scott stated that he and his team had spend a lot of time in searching for drugs in order to find all the Chinese patents. In the Last year, approximately 928,000 patent applications of drugs were filed in China, which is roughly a third of the 2.6 million applications that are annually filed across the globe.
He further said that they are trying to identify the novel drug candidates that are focused on the innovation in the drug industry. And they have succeeded in finding them; however, they had to go through numerous patents to find to find one. He further acknowledged that it should have not been that tough.
In the year 2009, when a couple of Chinese companies developed and made a swine flu vaccine in a span of 87 days, the excellent achievement was believed to be pivotal for the growing biotech Chinese industry. Swine flu had spread in Mexico in April 2009 and further crossed the Pacific in just a month. By the end of August, China had already developed the first vaccine, which was possible due to the efforts taken by Hualan Biological Engineering and Sinovac Biotech. Hualan had repeated the feat in the previous year with the development of an avian influenza vaccine. In spite of these major innovations, China is still facing a big drug problem: China hasn’t made a single blockbuster drug it can call its own or market globally.
The whole world is aware that China is magnificent when it comes to innovations. The nation can produce things like vaccines cheaper and faster than other countries. Moreover, now the country is the world’s biggest patent generator, bearing applications that have risen up to 12.5% in the previous year. The number can be compared with a5 % rise in the U.S. and a fall in Japan and Europe.