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A woman sorting medicine in the pharmacy of the Yueyang Hospital in Shanghai. Photo: Johannes Eisele/AFP/Getty Images

China is a long way from having a vibrant pharmaceutical industry, but is still pressing toward that goal.

Driving the news: A new report is out from Sen. Marco Rubio (R-Fla.) about China's "Made in China 2025" policy. It notes "China's intention for competing at the higher end of the value chain by innovating new drugs, increasing the quality of its products, achieving self-sufficiency in the domestic market, and increasing exports."

Where it stands: China has been trying to build up its own pharmaceutical industry for a while now.

  • It recently beefed up its version of the FDA, as well as its public health insurance program, to help entice more U.S. companies to see China as a market for sales, not just manufacturing.
  • Chinese companies are now trying to develop and win FDA approval for their own products, The New York Times reported last year, and are teaming up with the U.S. companies who are increasing their research footprint there.

Yes, but: China is a long way away from being able to seriously compete with the U.S. high-end drug industry, or to even be able to meet its own domestic demand.

Go deeper: How China is pulling ahead on AI and biotech

Go deeper

Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.

NRA declares bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

3 hours ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.