China to allow some drugs based on foreign approvals

BEIJING — China will allow use of some drugs and medical devices based on approval by foreign regulators, the government said Monday, in a move that could help to ease access to its health care market.

The step was one of a series announced by Chinese drug regulators to improve access to treatments and streamline an approval process that foreign suppliers complain is too slow and complex.

The communist government is in the midst of a marathon effort to expand access to health care for China's 1.4 billion people. At the same time, it faces pressure from trading partners to open its markets for medical technology.

Regulators want to improve access to "urgently needed drugs and medical devices," the CFDA said in a statement.

"Regarding drugs and medical devices that already are approved to go on the market abroad, they will be allowed on the market with conditions attached," the agency said.

The agency gave no details of what products might be affected or how the approval process would work.

Suppliers of drugs and devices such as X-ray machines have long looked at China as a promising market but complain that a cumbersome approval process that can take up to seven years hampers market access.

In 2015, the CFDA promised to simplify drug approvals and clear a backlog of applications.

Despite such steps, suppliers say Beijing is backtracking in some areas, such as by excluding foreign products from catalogs used by hospitals to purchase medical equipment.

Also Monday, the CFDA said it would streamline the process for approving generic drugs, a step that could undercut potential demand for foreign products.

Related News

US tycoon's China scholarship project opens doors...

Sep 10, 2016

A new scholarship program intended to rival the prestigious Rhodes Scholarships and build...

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

China's electric vehicle industry shaken by...

Sep 13, 2016

China's electric vehicle industry, a flagship for Beijing's technology ambitions, has been rocked...

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

Tesla's Autopilot system under scrutiny in fatal...

Sep 15, 2016

Tesla faces new scrutiny in China about its vehicle Autopilot system after state television...

China launches second space station, Tiangong 2

Sep 15, 2016

China has launched its second space station in a sign of the growing sophistication of its...

You may also like these

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

China starts 2017 engulfed by smog, issues...

Jan 2, 2017

Beijing and other cities across northern and central China are shrouded in thick smog, prompting...

Asia shares falter as investors watch dollar,...

Jan 6, 2017

Asian shares are wavering as a weaker dollar discourages investors who are shying away from risky...

Chinese factory makes giant inflatable...

Jan 13, 2017

A Chinese factory has been doing a brisk business selling giant inflatable roosters, some as tall...

Financial Markets

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.

Contact us: sales@thefinancialcapi.com