Value of China's innovative drug out-licensing deals hit new high in H1

The total value of China's innovative drug out-licensing deals exceeded 100 billion U.S. dollars in the first half of the year, reaching a record high, the Ministry of Industry and Information Technology (MIIT) said Monday.

China approved 38 innovative drugs for marketing during the period, including 31 developed by domestic companies, Tao Qing, head of the bureau for operation, monitoring and coordination with the MIIT, told a media conference.

Despite a complex and challenging external environment and mounting pressure from industry transformation, China's pharmaceutical industry remained resilient, Tao said.

From January to June, value-added industrial output of major pharmaceutical enterprises rose 6.4 percent year on year, with biopharmaceuticals posting double-digit growth.

The industry's export delivery value exceeded 210 billion yuan (about 30.91 billion U.S. dollars) in the first six months, up 9 percent from a year earlier.

Higher value-added products, including chemical finished dosage forms and biopharmaceuticals, accounted for nearly one-fifth of total exports, indicating an accelerating shift in the export mix from active pharmaceutical ingredients (APIs) to finished pharmaceutical products.