China to consolidate drug market, promote traditional medicines

China plans to consolidate its huge and fragmented drug market and will support a greater role for traditional Chinese medicines (TCM), the central government said in a statement on Sunday following a meeting of the State Council. China will also strengthen safety controls and traceability of domestic drugs, the statement said, part of an ambitious program of healthcare reforms to improve home-made medicines and reduce reliance on generic and more innovative drugs from overseas. “Accelerating the development of our domestic drug industry will better serve our people's healthcare needs, help build a healthier China and unleash economic growth potential,” the statement posted on the central government website said.

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China to consolidate drug market, promote traditional medicines