Many global cities are investing in health technology infrastructure to attract more clinical trials, yielding benefits like improved patient access to innovative treatments. Hong Kong, supported by top medical schools and a robust capital market, aims to become a premier health and medical innovation hub, featuring over 260 biotech companies with a total market capitalization exceeding HK$4.8 trillion.
Recent initiatives include establishing the Greater Bay Area International Clinical Trial Institute to enhance trial capacities, regulatory improvements for new drug registrations, and funding schemes to support R&D. Collaboration with firms like GlaxoSmithKline (GSK) and Tigermed underscores Hong Kong’s role in fostering innovation and a quality healthcare system. The city is committed to expediting drug approvals and utilizing its global business status to facilitate industry growth and international partnerships.
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Link to original article source: https://www.scmp.com/native/business/topics/building-hong-kongs-future/article/3347785/how-hong-kongs-role-innovation-hub-helps-healthcare-and-biotech-firms
