SHANGHAI (Reuters) - China had more than 18,500 drugs waiting for approval at the end of 2014, up by a third from a year before, the official Center for Drug Evaluation said on Friday, reflecting industry concern that it is getting harder to get medicines approved in the China market.
Drug company executives say China has toughened the approval process, with companies forced to go through six to eight-year wait times in the world's second biggest pharmaceutical market, where spending is set to hit as much as $185 billion by 2018, according to IMS Health.
21:52 Netflix nears 94 million subscribers 10 years after streaming launch17
18:21 Mark Zuckerberg takes the stand in $2 billion lawsuit claiming Oculus theft8
16:16 Luxottica, Essilor $24 billion merger creates eyewear giant18
19:08 U.S. indicts three Takata executives, fines company $1 billion in faulty air bag scandal16