Press Release

Sino-Phirda and PhRMA Sign Joint Cooperation Agreement

PhRMA November 20, 2010

Washington, D.C. (November 19, 2010) — Following a two day conference in Washington, DC, the China Pharmaceutical Industry Research and Development Association (SINO-PhIRDA) and the Pharmaceutical Research and Manufacturers of America (PhRMA) today signed a cooperation framework that embodies the intent of the multi-national pharmaceutical companies and Chinese pharmaceutical companies to continue a regular dialogue that will facilitate the two organizations working together.

“Everyone is impressed by the dedication and commitment of Chinese biopharmaceutical research companies to create new and better medicines for the global market. At PhRMA we all look forward to the time when we, hopefully, will count many of the companies here today as PhRMA member companies,” said John J. Castellani, President and CEO of PhRMA.

The conference highlighted topics such as intellectual property rights and other incentives for innovation, ensuring safety and efficacy and the challenges and opportunities of simultaneous global development of pharmaceuticals. Participants at the conference heard speakers from the U.S. Department of State, the Patent and Trademark Office, the International Trade Administration as well as the Food and Drug Administration. Chinese and U.S. industry leaders also addressed the conference.

Mr. Castellani further stated, “The better ties between our two countries, along with better ties between PhRMA member companies and SINO-PhIRDA and the Chinese biopharmaceutical research industry will help us better address the scientific, medical, regulatory and other challenges we face and help us, together, make better medicines available to the world’s patients who need and who hope for new cures and treatments.”

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.

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