Tougher China Data Protection Laws Put Health Players On Alert
Some Tech Firms Already Exiting
First LinkedIn, now Yahoo, the exodus of global tech giants from China indicates a toughening regulatory environment over personal data collection, storage and use with implications for pharma. Buckle up for a bumpy ride, experts say.
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Latest US trade group business survey shows R&D-based pharma and medical device companies continue to see China as an important growth driver but amid unequal market access, ongoing regulatory concerns, and patchy IP protection improvements.
China's main pharma hub of Shanghai reported sector output has plunged by more than half due in large part to the prolonged lockdown, while 58% of surveyed foreign companies in China across all industries project declining revenue.