Shanghai Unveils Plan to Boost Biopharmaceutical Industry with CNY100 Million Each in Funding

Jul 31, 2024, 10:27 AM

Shanghai has announced a comprehensive plan to support its biopharmaceutical industry, pledging millions of dollars over five years to reward local drugmakers that break into global markets. The municipal government will provide up to CNY100 million (USD13.8 million) each to companies based in the city for novel drug research, development, and clinical trials. This initiative is part of a broader set of 37 measures aimed at bolstering Shanghai's health care sector.