(ECNS) -- China aims for its first-in-class new drugs to account for more than 25% of the global total during the 15th Five-Year Plan period (2026-2030).
China's Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC) and eight other departments jointly released a development plan for the pharmaceutical industry during the 15th Five-Year Plan period on Wednesday.
The document targets revenue of more than 3.5 trillion yuan from large-scale pharmaceutical manufacturers by 2030.
The plan sets out development targets for the sector in areas including industrial scale and efficiency, innovation, enterprise development and the growth of industrial clusters.
Key targets include steady growth across the industry, with the innovative drug segment expected to achieve an annual growth rate of more than 20%. China is also expected to have at least five pharmaceutical products with annual global sales exceeding $1 billion each.
The blueprint also seeks to foster at least 50 pharmaceutical companies with annual revenue exceeding 10 billion yuan and establish 20 industrial parks, each with an output value of more than 100 billion yuan.
On innovation, the plan calls for listed pharmaceutical manufacturers to maintain an average annual R&D intensity of more than 10%, while China's first-in-class medicines are expected to account for more than 25% of the global total.
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