[Photo/Agencies]
The Wuxi government rolled out a series of measures and a three-year plan for the development of the biomedical industry on April 1.
In 2019, the value of Wuxi's biomedical industrial output exceeded 80 billion yuan ($11.32 billion), a year-on-year increase of 17 percent.
According to the three-year plan, by 2022, the city's biomedical industry is expected to reach a value of 200 billion yuan and it is expected to be home to 1,500 enterprises involved in the industry.
A total of 15 measures in support of the development of the biomedical industry have been introduced. They focus specifically on the research and development of innovative drugs, high-end medical devices, and high-quality generic drugs.
The measures are meant to support innovation, build platforms, cultivate enterprises, strengthen services, and help attract projects for the city's biomedical industry.
The government also plans to provide subsidies of up to 100 million yuan ($14.15 million) annually for individual enterprises involved in biomedical R&D and industrialization projects,.
For enterprises engaged in the research and development of innovative drugs, up to 28 million yuan in subsidies will be given out according to the stage of clinical research. Major innovation centers and key enterprise technology public service platforms will be able to receive up to 20 million yuan in subsidies.
The measures also focus on the cultivation of enterprises and talent. Drug marketing license holders, medical device registrants, and entrusted manufacturing enterprises can receive awards of up to 5 million yuan, while awards of up to 10 million yuan will be given to enterprises that sell a certain amount of a single drug or medical device and whose primary annual business income exceeds a certain amount for the first time.
For high-end talent or teams involved in the biomedical industry that apply for the "Taihu Lake Talent Plan", the upper age limit for applicants will be removed and other conditions will also be relaxed.
The plans state that Wuxi is expected to become a hub for the biomedical industry in the Yangtze River Delta by 2022.
