China is developing into a center for pharmaceutical development in Asia, and many multinational companies are competing to build pharmaceutical development centers or production bases in China. According to the market research of the New Drug Development Center of the United States, in the past 20 years, the cost for new drug development has increased five-fold. In 2003, for example, the investment cost for each new drug development reached an average of 897 million U.S. dollars. The cost in China is only about one-tenth that of the developed countries. Combined with the tens of billions of dollars in the pharmaceutical market, this is a huge attraction for multinational companies investing in R&D in China. Due to the low cost of new drug trials and labor in China, R&D of new drugs in China can save a lot of money compared with research and development in developed countries. If a doctoral researcher is recruited in China to develop new drugs, the average monthly salary is about 25,000 US dollars, which is still less than 1/10 of that in developed countries. Swiss Roche recently invested heavily in the suburbs of Shanghai to set up an R&D center to recruit more than 40 research and development personnel with high degrees in China. A pharmaceutical company in the United States is investing 175 million U.S. dollars to build Asia regional headquarters in Shanghai and plans to establish a research and development center. Another Swiss company is currently looking for a partner in China to build a pharmaceutical development and production base in China. The new drugs developed by these companies in China will entrust US-based pharmaceutical appraisers in Shanghai and Germany to conduct drug efficacy appraisal. With the improvement of people’s living standards and the expansion of the elderly population, the demand for the pharmaceutical market is huge. It is expected that the sales volume in 2005 will reach more than 270 billion US dollars, which is equivalent to twice the amount of five years ago. China is a traditional production base of traditional Chinese medicines. There are more than 12,800 kinds of Chinese medicines produced. In the development of new medicines combined with western medicine and traditional Chinese medicine, China has made some breakthroughs, which is a rare industrial advantage. Large multinational pharmaceutical companies want to take advantage of China’s advantages in the integration of Chinese and Western medicine to capture the Chinese and international markets. In addition, the purchase of large multinational pharmaceutical companies in the world is increasing, and R&D operations are also conducted abroad. According to statistics, U.S. pharmaceutical companies invested more than 30 billion U.S. dollars in R&D in 2001, of which 20% to 25% were conducted abroad. The pharmaceutical procurement and R&D operations of major pharmaceutical companies in China have increased significantly in recent years. In the future, their business volume in China will be further expanded to reduce overall costs and increase pharmaceutical competitiveness. This has, to a certain extent, strengthened the trend of rushing to China.
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