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From the Market: Life Sciences

From the Market: Life Sciences
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A recent briefing note produced by UK Trade & Investment (UKTI) notes that the 2009-2011 Guangdong Healthcare Reform Plan indicates a total of RMB 42 billion investment in the healthcare system with a focus on four areas including public health service; medical services; medical insurance; and medicine supply insurance.

Guangzhou and Shenzhen - the two major cities in South China - have some of the highest disposable incomes in China. Around £20 million has been allocated to the construction and equipping of new hospitals and clinical centres in Guangdong province. Particular opportunities in this region are: training, infectious disease control, maternity and child health, and medical devices.

Guangzhou has also established itself as a centre for biotech innovation and commercialisation. Some 30 biotech innovation centres have been set up which act as a platform between academic research and the manufacturing industry.

Compared with the cost for clinical trials in the US, the cost in China is 50-70 per cent less and the timeline for phase III trial can be cut short by six to seven months. The increasing popularity of using China as a location for research and clinical trials has encouraged the growth of the contract research organisation (CRO) sector.

Local Chinese CROs are able to offer clients a cost-effective service and are also keen to seek overseas partnerships to help improve their operational standards, and to raise their awareness.

For more information please contact chris.cotton@cbbc.org

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