Pingshan District has announced new measures to accelerate the growth of its innovative drug industry cluster and support innovative drug companies in the district. “Measures to Accelerate High-quality Development of Innovative Drugs in Pingshan, Shenzhen (Trial)” will take effect on June 10 and remain valid for three years.

This is China’s first policy at the district or county level specifically designed to support the development of innovative drugs. Under the measures, companies will receive rewards for activities such as recruiting talent to enhance innovation, conducting research and development (R&D), investing in projects, carrying out clinical drug trials, obtaining Marketing Authorization Holder (MAH) certificates, developing high-quality pharmaceutical products, cultivating international pharmaceutical products, and engaging in licensing transactions.

As a key area for biopharmaceutics in Shenzhen, Pingshan has developed a robust advanced manufacturing cluster in the biopharmaceutical industry over the years. This cluster primarily includes biomedicine, high-end medical devices (including intelligent rehabilitation aids), and biotechnology.

Pingshan aims to establish itself as a hub for innovative drug R&D. The new measures were formulated after extensive consultations with enterprises to address their challenges and needs. They are more targeted and comprehensive, effectively responding to the diverse demands of innovative drug companies amid the current challenging financing environment.