Pharmaceutical giants explore new paths as innovation, restructuring reshape industry

Exploring new development paths have become key for global pharmaceutical companies, as technological innovation and market restructuring are reshaping the global pharmaceutical industry, said the China Chamber of Commerce for Import and Export of Medicines and Health Products.

Asia's largest pharmaceutical event CPHI China 2025, a specialized exhibition on pharmaceutical ingredients, will be held in Shanghai from June 24 to 26. In the meantime, PMEC China 2025, a major pharmaceutical machinery event in Asia, will be held simultaneously at the Shanghai New International Expo Center.

So far, more than 3,500 domestic and overseas companies have registered to attend the event. The participants include nearly 300 top international brands, with the figure rising by 20 percent over last year. The exhibits cover 12 major areas, including pharmaceutical raw materials, natural extracts, biotechnology and pharmaceutical excipients, the chamber said.

Some participants include international pharmaceutical firms such as Biosynth Group, Dr. Reddy's Laboratories Ltd, Indena, and Merck, and domestic drugmakers such as Sinopharm and Fosun Pharma.

Chinese pharmaceutical companies are seeking progress while maintaining stability in the global pharmaceutical supply chain. In the first quarter of this year, the total import and export value of China's pharmaceutical industry reached $47.09 billion, edging up 0.38 percent year-on-year, according to the chamber.

In particular, the exporting value achieved $26.63 billion in the first three months, growing 4.39 percent year-on-year, indicating stable development and strong resilience of the sector, data of the chamber showed.