The Shanghai Biopharmaceutical Chamber of Commerce holds its first meeting on Feb 22. [Photo/WeChat ID: julihuacao]
The first meeting of the Shanghai Biopharmaceutical Chamber of Commerce (SBPCC) and the Biopharmaceutical Development Conference were held on Feb 22 in the Minhang area of the Hongqiao International Central Business District.
The biopharmaceutical industry is one of Shanghai's leading industries. With support from the Shanghai Federation of Industry and Commerce, the SBPCC was launched by 18 leading private enterprises, including Fosun Pharma. Its establishment marks a significant step forward in the high-quality development of Shanghai's biopharmaceutical sector.
Chen Qiyu, non-executive director of Shanghai Fosun Pharmaceutical (Group) Co Ltd, was elected as the chamber's first president. Over 200 representatives of the initial 181 member enterprises, industry experts, and related business associations gathered to witness the chamber's unveiling and to strategize about the industry's future.
Shanghai is aiming for a total biopharmaceutical output of 1 trillion yuan ($137.87 billion) this year, with a 5-percent increase in manufacturing output. The municipal government will enhance the "R&D + clinical + manufacturing + application" industry chain, support innovation, and improve the efficiency of review and approval processes. Efforts will also be made to promote innovative Shanghai-made drugs and devices globally.
Minhang district, home to over 700 biopharmaceutical enterprises, saw a biopharmaceutical output of 67.6 billion yuan in 2024. Moving forward, Minhang aims to develop a biopharmaceutical innovation hub that connects the Yangtze River Delta, serves the nation, and has global influence.
Huacao, a strategic town in Minhang, is rapidly forming industrial clusters in biopharmaceuticals, modern commerce, and the digital economy, with major projects by Innovent Biologics, Wego, and Yunnan Baiyao highlighting its growth.
