The Financial Times reported that Novartis plans to submit 50 new drug applications in China by 2023, which will be split about evenly between innovative and off-patent medicines, according to the company’s head of global drug development John Tsai.
The company has had 24 drugs approved in China in the past two years, most recently the multiple sclerosis treatment Gilenya in June, with Tsai stating “we absolutely think China will be the number two market for us.”
Novartis previously had to wait for up to six years to sell its products in China after they had been approved in the US, but the gap is now a matter of months, the news source said.
In regards to Chinese patients, Tsai noted that “there’s loyalty in staying with branded drugs…[but] we think that is going to shift.”
Meanwhile, Novartis conducts research on drug candidates in China, which is gradually approaching the US and Europe in a research capacity, the news source said.
“The western world still leads in chemical identification, but that will catch up in the next five to ten years,”