June 11, 2018 Source: Fierce Pharma 134
According to the latest reports, the new Chinese data management rules could become a hindrance for global pharma collaborations and research. In March the Chinese government passed data management regulation, which demand researchers to take receive approval from the government before exchanging or sharing information with international companies which includes proposals for international academic papers and journals.
According to the report, the new legislation could create various pitfalls for partnerships and research projects as well as increase the fees for the cost of entry into the Chinese pharma market.
The new ordinances come after another extensive cyber-security law, which was set in place last year, stating that data must be hosted on servers on the Chinese mainland.
According to the Henry M. Jackson School of International Studies at the University of Washington, the regulations require companies to locally store all personal details and various types of other information gathered in the country.
On the other side, the U.S. President Donald Trump proposed tariffs on Chinese imports could end up costing the Chinese medical device industry billions of dollars. Even though Chinese-products make up a small part of the market a 25% tariffs on pacemakers, orthopedic implants, electronic health devices and other devices would most likely also have a major influence on American companies operating in China. The estimates of the potential negative impact range from $1.5 billion to as high as $5 billion annually.By Ddu
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