In 2017, policies have been promulgated such as medical insurance payment, consistency assessment and prioritization, and the opening up of innovative medicines which will affect the industry in a far-reaching manner with the aim of enhancing industry concentration. On January 19, SFDA issued the Guiding Opinions on Further Strengthening the Standards of Food and Drugs, which revised 3,050 national drug standards to speed up their upgrading and ensure the safety and effectiveness of drugs. This is another punch made by the SFDA to improve the quality of Chinese medicines. It is expected that in 2018 3,000 pharmaceutical companies will close down, and within 5 years the medical industry will be completely restructured.
Source: China Bio news release, January 23, 2018
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