The pharmaceutical, diagnostics and medical device industry in China is emerging. Although the sophistication level of many Chinese companies in the sector is high, local demand – at least for some of their products – is developing at only a modest pace. However, what the Chinese market doesn’t have in terms of ready-made markets, it makes up for in terms of inexpensive research and production. China exports far more pharmaceuticals than it uses domestically. The Chinese medical market is in fact something of a paradox — ultra-modern techniques and traditional medicines coexist. All this being said, it is our sense that the market for pharmaceuticals, diagnostics, and medical devices has explosive growth potential that foreign enterprise clients will want to capture. Standing in the way of market access is, of course, the need for licenses, permits and approvals from relevant authorities, such as the State Food and Drug Administration (“SFDA”).
IPO Pang and its team of lawyers, legal assistants and specialists assist foreign enterprise clients with their applications for approval, clearances, and clinical testing. Our in-depth knowledge of the pharmaceutical, diagnostics and medical devices industry, in concert with personal relationships with SFDA insiders enables our lawyers to assist our foreign enterprise clients with speedy real-time advice. We understand the importance of anticipating Chinese government regulatory changes and the potential fallout arising from contractual misinterpretation in the context of corporate strategic planning and operations. Therefore, we pay particular attention to the foreign enterprise client’s needs and objectives, and are often invited to be part of the team in the early planning stages of a venture or regulatory approval project. IPO Pang brings local and international experience to help our foreign enterprise clients meet their expectations for their Chinese dealings.