The biopharmaceutical industry in Pudong New Area, Shanghai has gained momentum as enterprises are stepping up global expansion while focusing on the domestic market.

Among them, Arteche Shanghai, a medical company based in Zhangjiang Science City in Pudong, has recently obtained approval from the National Medical Products Administration for the registration of its innovative product — the Cardiac CryoAblation Catheter. As the first of its kind among similar products on the Chinese market, it is expected to meet clinical needs for paroxysmal atrial fibrillation treatment.

This year has seen the approval and market launch of three domestic innovative medicines, three imported innovative drugs, and six Class III innovative medical devices in Shanghai, with Pudong enterprises holding a significant share. Alongside their domestic launches, Pudong companies specializing in innovative drugs and medical devices have also accelerated their expansion efforts overseas, showing strong momentum.

The biopharmaceutical sector has long been a key focus of investment and development in Pudong. In 2023, the industry's output value reached 378.1 billion yuan ($53 billion), accounting for 40 percent of the city's total biopharmaceutical output.

The "going global" strategy of Pudong enterprises has entered a new phase of scaling up, with multiple innovative drugs and devices successfully licensed and approved in overseas markets. Through diverse approaches such as mergers and acquisitions, product licensing, cooperative development and independent operations, these advancements not only accelerate the globalization of innovative drugs and devices but also unlock long-term growth potential for the companies.