According to GlobalData, Asia accounted for 50% of the world’s drug clinical trials over the last five years. The reasons for this include a large diverse population, improved healthcare institutions, lower costs, prevalence of certain diseases, etc. The number of clinical trials in China has doubled over the last 5 years too. This is a result of China’s fast R&D development for new drugs, and more foreign drug companies doing multi-regional clinical studies which include China. If foreign drug companies include China in their US and EU studies, they can more easily use such data and reduce their overall clinical trial costs for China drug approval. In the cancer clinical trial area, the total number of global clinical trials is dramatically increasing, and about half of these cancer trials occur in China.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with regulatory and business development issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.