R&D spending of selected pharmaceutical firms in China 2022
In 2022, China's leading innovative drug company Jiangsu Hengrui Pharmaceuticals spent 6.35 billion yuan on research and development, while Shanghai Fosun Pharmaceutical Group, one of its main competitors in the market, spent almost 5.9 billion yuan. Pharmaceutical companies that focus on innovative drugs and therapies generally have a higher expenditure on research, while traditional Chinese medicine (TCM) companies often put more effort into marketing.