Generic drug approvals boost pharma firms' global ambitions

Chinese pharmaceutical companies are strengthening their presence on the world stage with an increasing number of generic drug approvals from the United States, thanks to rising research and development capabilities and official support for innovation, industry insiders said.

According to statistics from the Healthcare Executive Institute, a leading healthcare industry think tank based in Beijing, as of Dec 24, 2018, Chinese pharmaceutical companies had received 77 generic drug approvals - known as abbreviated new drug applications or ANDAs - from the US Food and Drug Administration.

The number was 38 in 2017 and 22 in 2016. Before 2016, Chinese pharmaceutical companies had fewer than 15 ANDAs approved on average each year.