Pharmaceuticals to develop new medicines

Domestic pharmaceutical companies in China intend to form an alliance to boost the development of new medicines and to strengthen intellectual property protections, according to a declaration released at a seminar on medicine innovations and pricing policies held in Beijing at the end of December.

Luo Xielong, vice-chairman of China Pharmaceutical Enterprises Association, said the alliance would be "very good" for the industry that "can bring benefits and no harm".

He believes an innovation alliance could help China change "from a large nation to a strong nation" in medicine development. He added the companies, rather than universities or research institutes, should become the main innovators since they have a better understanding of the market.