For the first time in 61 years, China has reported its population is shrinking and the new demographic shift is likely to have a far-reaching impact on the pharma sector. Meanwhile, regulators have accelerated the approval of new COVID-19 drugs to relieve acute shortages.

Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.

Throughout 2020, China’s drive to introduce more and newer drugs to the market did not slow but was rather accelerated by the COVID-19 pandemic. But can people afford them?

Rare disease and cancer treatments are front and center in the latest batch of China new drug approvals, while biosimilars are expected to move into the spotlight.