Song Ruilin, Executive President of China Pharmaceutical Innovation and Research Development Association (PhIRDA) attended the 36th Annual J.P. Morgan Healthcare Conference in San Francisco, USA, and delivered a speech titled The Significant Reforms in 2017 China Pharmaceutical Administration” on the luncheon of Asia Forum on January 10, 2018.

Today's 36-year-long J.P. Morgan Healthcare Conference is the premier event for the global healthcare and investment community, attracting senior business management, investors and institutions from around the world to discuss the future of the industry trend and leading the world's pharmaceutical and healthcare development and investment direction. This is also the first time that the Asia Forum of the Conference held luncheon for China to introduce the reforms of Pharmaceutical Administration in China.

Prof. Song Ruilin pointed out that the convening of the 19th CPC National Congress announced a new era in which China's economic development has shifted from rapid growth to high-quality growth. Under the circumstance, 2017 is also a crucial year for China's pharmaceutical administration reform to find new ways and change. China Food and Drug Administration (CFDA) formally joined The International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) in July, 2017, marking that China Drug Review and Approval standards and guidelines will be fully in line with the international standards. This is an important pace of the internationalization but also a challenge for Pharmaceutical Industry in China. General Office of the CPC Central Committee and General Office of the State Council issuedOpinions on Deepening the Review and Approval System Reform and Encouraging the Drug and Medical Device Innovation on October 8th, opening the landmark comprehensive reform in the history of Chinese Pharmaceutical Development. Prof. Song Ruilin gave a brief introduction of theOpinionsand pointed out that the application of The Reform of Clinical Trial Management,Drug Patent Linkage System,including new drugs in the National Reimbursement Drug List (NRDL),Marketing Authorization Holder (MAH) System, etc. will have tremendous impact on domestic and overseas industries and facilitate the development of pharmaceutical market in China. Meanwhile, with the participation and promotion of PhIRDA, Hong Kong Exchanges and Clearing Limited (HKEX) has approved the listing application of pre-profit/pre-revenue companies listing under the new Biotech chapter would be required to have a minimum expected market capitalisation of 1.5 billion HKD. This will effectively facilitate the docking of the Chinese pharmaceutical innovation industry with the domestic and international capital markets. He added that with the promotion of the three favorable factors, China's pharmaceutical innovation will also embrace the investment boom and many opportunities.

Prof. Song Ruilin also introduced the China BioMed Innovation and Investment Conference (CBIIC) held by PhIRDA. The success of the two CBIIC since 2016 has received a warm response in the domestic industry. The 2018 CBIIC will be held in Suzhou on September 18, 2018. The number of participants is expected to exceed 3,000, and participants from domestic and abroad pharmaceutical industry are welcome to attend this event, sharing the achievements of the reform and development of China’s pharmaceutical industry together.

Song Ruilin, Executive President of PhIRDA delivered a speech

Song Ruilin, Executive President of PhIRDA answered questions after speech