Biopharmaceutical sector stands as one of Shanghai's key industries for development, driving the growth of new quality productive forces. Shanghai has been actively fostering a globally influential biopharmaceutical innovation hub, introducing a series of policies that have yielded positive outcomes.

Since the implementation of Shanghai's policies to promote biopharmaceutical industry development in 2021, a stream of innovations has surfaced, according to a recent municipal government press conference. Nineteen first-class innovative drugs and 25 third-class innovative medical devices have been approved for market entry. Notably, breakthroughs in oncology, metabolism, immunology, and neurology have led to the emergence of globally pioneering new drugs, nationally debuted cell therapy drugs, and internationally top-tier medical devices.

Pudong-based multinational corporations are performing exceptionally well. Products like Roche's bevacizumab injection and Boehringer Ingelheim's pertuzumab monoclonal antibody injection have received regulatory approval for being marketed, setting a precedent for multinational pharmaceutical companies conducting synchronized global research and development and achieving market approval in China ahead of Western countries.

From 2021 to 2023, Shanghai's biopharmaceutical industry scale grew from 761.7 billion yuan ($106.76 billion) to 933.7 billion yuan. Cutting-edge sectors such as cell and gene therapy, synthetic biology, medical robotics, and advanced medical imaging are fostering new momentum for development.