Chi­na vows to con­tin­ue speed­ing up drug ap­provals, ex­pand tax cuts; Sor­ren­to/Yuhan JV re­ceives $40M fi­nanc­ing

→ In the lat­est move to spur in­tro­duc­tion of new med­i­cines, Chi­na has an­nounced it will re­duce the val­ue-add tax on 21 rare dis­ease drugs the same way it of­fered tax breaks to im­port­ed can­cer drugs in April 2018. While good news to all drug­mak­ers, the change is ex­pect­ed to ben­e­fit in­ter­na­tion­al com­pa­nies more than do­mes­tic ones “be­cause they are run­ning ahead on de­vel­op­ing drugs for rare dis­eases,” an an­a­lyst tells Bloomberg.

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