In less than a week, China will hold its second import expo in Shanghai. World leaders are set to attend an opening ceremony. The expo this year features more exhibitors and a bigger exhibition park.
CGTN’s Yang Chengxi reports.
Pharmaceutical companies used the first China International Import Expo as a platform to launch their innovative drugs in China. Last year, one of the top companies, Novartis, showcased the drug Entresto to help treat chronic heart failure.
“And now it’s already benefiting a million patients.” Says Yin Xudong, Novartis President of Asia-Pacific, Middle East and Africa.
Perhaps just as important, the annual expo provides an opportunity for participants to interact with key stakeholders about the promotion of new treatments and industry regulations.
“Including doctors and government regulatory authorities, this platform provides a one-stop-shop opportunity” says Xudong.
Novartis is showcasing several new drugs this year, as well as innovations in digital platforms. It’s one billion U.S. dollar complex in Shanghai is the company’s third-largest research and development center.
Also aiming to promote new medical treatments in China, is the Swedish company Elekta. Its focus is on radiotherapy for cancer. They say radiotherapy remains underutilized in China.
According to Liu Jianbin the Senior Vice President of Elekta China, “radiotherapy accounts for about 30 percent of cancer treatment success cases in developed countries.”
The 5-year relative survival rate for all cancers in China averaged a little over 40% in 2015. While in the U.S., the survival rate had already reached almost 70% by 2014.
Elekta says, having its radiotherapy equipment on display at the import expo, could help save lives in China. “Last year, the Chinese government released over a thousand quotas for radiotherapy equipment for public and private hospitals.” Says Jianbin.
Their new equipment made its Asia debut at last year’s expo. It’s now undergoing clinical trials in China as the company gears up for commercial sales.
China has streamlined and accelerated regulatory approvals for new medical products and service in recent years. That’s helped international medical firms coordinate the timeline for new product launches in China and around the world.