Lilly CEO John Lechleiter, who is also the head of PhRMA this year, told China regulators that they need to speed up their review of drugs in the clinical pipeline if they want to be competitive with the rest of the world. He characterized current China review practices as "being 8 years behind the pace of major regulatory groups" (some might snarkily say the same about Lilly's pipeline).
The Chinese government is known to have a hankering for Western cash so it is likely they will take heed of this advice and look for ways to improve -- as it is in their best interest to speed new drug introductions and commerce in China. And -- oh by the way -- it could also raise health care level of care in China too. See Fierce Biotech.
Posted by Bruce Lehr Nov 29th 2012.
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