Jiangsu has introduced a slew of new measures such as financial support, subsidies to reduce burden and shorten the approval time for the production and R&D of drugs and devices against COVID-19 in a bid to further optimize the R&D and approval process of innovative drugs and medical devices, and consolidate the cutting edge of the province’s bio-pharmaceutical industry.
Last year, Jiangsu's biopharmaceutical industry reported an output value of more than 500 billion yuan. A total of 14 enterprises were listed in the top 100 list of China's pharmaceutical industry, and 14 parks were among the top 50 in the comprehensive competitiveness of national biopharmaceutical industry parks.
In 2022, the Provincial Science and Technology Department invested 200 million yuan in provincial funding for COVID-19 infection, cancer, diabetes and also supported 85 innovative products to support the research and development of innovative drugs and medical devices.
A series of policies and measures introduced this time will vigorously support the production and research of anti-epidemic drugs and instruments through financial support.
"We will strengthen the implementation of the '42 preferential measures', follow the law of biomedical research and development and innovation, establish a landmark support mechanism and give different levels of financial support to innovative drugs and medical devices developed and produced in Jiangsu at different stages, such as phase I, phase II, phase III clinical trials or market production. The maximum funding for a single province can reach 10 million yuan," said Li Yafang, Director of Social Development and Basic Research Division of Jiangsu Provincial Department of Science and Technology.
Jiangsu will also exempt registration fees for drugs that have entered the approval process and are used to treat and prevent COVID-19, as well as medical devices related to the prevention and control of COVID-19 epidemic, and reduce product inspection fees for medical device enterprises.
After the implementation of this policy in 2022, a total of nearly 70 million yuan of fees were deducted and remitted that year, benefiting 1277 pharmaceutical and medical device enterprises.
