The multinational pharmaceutical giant AstraZeneca plans to establish a traditional medicine industry innovation center China (MTC) in the sichuan Province, southwest China, according to local authorities.
The center will incubate and empower modern industry
AstraZeneca signed an online agreement with the Chengdu Hi-tech Industrial Development Zone. This, to jointly launch the hub that will incubate and empower the modern TCM industry, depending on the zone.
The center integrates a research institution led by academics and platforms that offer support to the industry of Chinese traditional medicine. Such as business modernization and clinical commercialization.
AstraZeneca established its headquarters in the west of China in Chengdu High-tech Zone in November 2020. The regional headquarters started operations in September last year.
AstraZeneca entered China in 1993 and achieved total revenue of $37.4 billion
Chengdu High-tech Zone has more than 3,000 medical companies. In the first quarter of 2022, the industrial production and the industrial value added of the main healthcare medical companies in the area increased by 14.2% and 8%, respectively, compared to the same period last year.
AstraZeneca entered China in 1993 and achieved a total revenue of US$37.4 billion worldwide in 2021. With US$6 billion coming from the Chinese market.
Based in London, AstraZeneca focuses on the treatment of respiratory, cardiovascular, metabolic, renal and digestive diseases.
China issues plan for TCM development
On the other hand, a few weeks ago China he had already noticed his interest in developing traditional medicine.
According to the plan published by the General Office of the State Council, by 2025 the capacity of health services provided by MTC will be significantly improved. While politics and system for the high-quality development of the sector will be further enhanced, with its unique strengths being fully played in building a healthy China.
The plan sets out key tasks to be implemented during the period, such as creation of a solid TCM service system. The promotion of specialists in the field and the development of a high-level system for inheritance, protection and innovation in MTC.
The plan also emphasizes the combination of traditional Chinese medicine and modern science and the integration of Chinese and Western medicine to better protect people’s health.
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