JINAN: In the Jinan-based Qilu Pharmaceutical Group Co., Ltd plant located in east China’s Shandong Province, production of China’s first bevacizumab injection is running full steam ahead.
The drug, which is mainly used to treat advanced, metastatic or recurrent non-small cell lung cancer and metastatic colorectal cancer, broke the exclusive monopoly of foreign pharmaceutical giants on similar drugs in China after it entered the market late last year.
As a leading enterprise in China’s pharmaceutical industry, Qilu Pharmaceutical realized a sales revenue of 23 billion yuan (about 3.5 billion U.S. dollars) last year. Meanwhile, the company exported 615 million U.S. dollars of products, up 14 percent year on year.
In the first 11 months of this year, its exports further registered a year-on-year growth of 14 percent, with products exporting to over 70 countries and regions. The biopharmaceutical industry is one of the most active and far-reaching emerging industries in the 21st century.
Though China started late in this field, the development of the industry has been on a fast track. China’s complete production chain and strong supply capacity in the area have proven to be a strong buttress during the COVID-19 pandemic as well as a new growth engine to promote economic growth within the country. – Agencies
