Global biomedical companies unveil cutting-edge therapies, medical technologies at CIIE

Major global biomedical companies have not only unveiled cutting-edge therapies and medical technologies at the 8th China International Import Expo (CIIE), but pledged to deepen research and development (R and D) investment in China as the country's innovation capabilities become increasingly apparent.

Amid global trade shifts, multinational pharmaceutical companies are increasingly looking to China as a critical hub for innovation and growth.

Innovative drugs and high-end medical devices that make their debut at the China International Import Expo (CIIE) have earned a nickname over the past eight years -- "CIIE Sprouts." Often, they enter the Chinese market at an accelerated pace and eventually receive regulatory approval.

These products have assisted with filling critical gaps where there were once “no drugs to use” or "no devices available", bringing real clinical value and social impact to patients in China.

"We really see China as a real strong hub for R and D and manufacturing. There's a lot of local capability, especially in R and D, we really want to invest locally. Earlier this year we made an announcement to invest 2.5 billion dollars in Beijing," said Mohammed Tawil, president and CEO of Boehringer Ingelheim Greater China.

Human medicines, animal health products, medical devices and wellness goods are all benefit from the CIIE. More and more so-called "CIIE sprouts" are being born on the exhibition floor, quickly growing into real products on the local market.

China has built an entire ecosystem that allows a new drug to go from lab to market faster than ever before. This is why more Chinese-made medicines are now earning international certifications, entering hospitals in Asia, Europe, and beyond.

"We really see China as a real strong hub for R and D and manufacturing. There's a lot of local capability, especially in R and D, the way we really want to invest locally. Earlier this year we made an announcement to invest 2.5 billion dollars in Beijing," said Tony Pusic, senior vice president of Supply Asia Pacific, AstraZeneca.

"In the beginning, we focused on the basic things such as clinical research and helping new drugs enter China, but now it's no longer just about clinical trials, but about forging strong partnerships and building systems. So, now we are not only going to do what we did before, but also do new things and look forward," said Wang Li, senior vice president of Lilly Corporate.

Global pharmaceutical and healthcare companies are showing strong faith in the Chinese market. For many, China isn't just a big market, but also one of the most important in the world, and a source of innovation across research, manufacturing and supply chains.

Global pharmaceutical giants are deepening their full-scale localization strategies in China, while domestic companies are accelerating their global expansion, leveraging local resources to support international growth.

"By partnering with a global companies, global leading players, we can speed up this process. So we have our own R and D team, but in the same time we partner with the global players," said Shi Ruiwen, vice president of Simcere Pharmaceutical Group

The CIIE highlights this two-way model of development. Many exhibitors have returned year after year, some for all eight editions since the very first expo. What keeps them coming back is not just the event itself, but the sustained momentum and confidence they see in China’s market and its innovation drive.

The 8th CIIE, held in Shanghai from Nov. 5 to 10, has attracted more than 4,000 overseas enterprises from 155 countries, regions, and international organizations. As the world's first national-level expo dedicated to imports, it aims to promote openness, innovation, and win-win cooperation. This year's edition focuses on global trade, green transition, and technological innovation.

Global biomedical companies unveil cutting-edge therapies, medical technologies at CIIE

Gas prices at pumps in the United States surged above four U.S. dollars a gallon for the first time since the summer of 2022, reaching a record high in nearly four years, data from the American Automobile Association (AAA) showed on Tuesday.

According to AAA, the national average for a gallon of regular gasoline in the United States has risen by about one dollar since last month, reaching 4.018.

The price of diesel hit 5.454 U.S. dollars per gallon, up 45 percent in a month.

In California, the largest U.S. state economy, the average gas price stood at 5.887 U.S. dollars per gallon and the average cost of a gallon of diesel reached an all-time high of 7.455 U.S. dollars on Tuesday, as per AAA.

The growing gas price has become a challenge for local car owners in Los Angeles, California, as many of them saying they are cutting back on driving and changing daily habits.

"The only reason why I came here was convenience. I was completely out of gas, and on 'empty.' But this is crazy expensive. So, normally, I would never come to a gas station this expensive, and I'd look for cheaper gas," said Cindy Devereaux, a local resident.

"I commute a lot, so, I'm paying like 30 dollars more in the prices that I used to pay. So, it's really taking a toll on my wallet, and it's not a good look for the economy. I think this is just the beginning. I honestly think it's going to get worse, and we're just seeing the beginnings of this. And, yeah, I think we're heading into a crisis," another local resident Scarlett Zamora said.

Given the oil price hikes caused by the war in Iran, consumers' median 12-month inflation expectations in March surged, according to a Conference Board report on Tuesday.

The report showed that consumers' median 12-month inflation expectations in March stood at 5.2 percent, higher than the 4.5 percent reading in February.

Meanwhile, U.S. Consumer Confidence Index rose to 91.8 in March, up from 91.0 in February, the report said.

US gas prices reach record high in nearly 4 years