[HIGHLIGHTS] The government work report mentions innovative drugs for the first time. What information does it convey that innovative drugs are attracting attention?

The government work report mentions innovative drugs for the first time. The pharmaceutical industry generally believes that this is a national-level effort to promote China's transformation from a large pharmaceutical production country to a powerful pharmaceutical country.

Since 2011, China has approved more than 500 new drugs for marketing. There are more than 3,500 new drug projects under development, accounting for 33% of the world's total. There were 44 cases of multinational companies purchasing R&D projects of Chinese companies in 2022. Since 2023, there have been more than 70 cases, with a transaction volume of nearly more than US$40 billion.