The Hong Kong Association of the Pharmaceutical Industry (HKAPI) was formed in 1968 and has currently 38 full members, which are all international companies engaged in the R&D of pharmaceuticals. The member companies of HKAPI provide close to 70 percent of all prescription medicines in Hong Kong.

The association was formed to provide maximum information on all matters relating to the Hong Kong pharmaceutical market, to its members. Another major role of the association is to improve the relationship between its member companies and the government, healthcare related societies and the community. The association also provides suggestions on healthcare policies to improve the overall well being of people living in Hong Kong.

Ms Sabrina S K Chan, executive director, Hong Kong Association of the Pharmaceutical Industry (HKAPI), shares industry thought on current challenges faced by pharmaceutical companies in Hong Kong and the changes required in regulatory approval process. Here is an excerpt.

What is the size of pharmaceutical industry of Hong Kong?
The Hong Kong pharmaceutical market is around $7 billion (HK$ 55billion) and the country is trying to focus more on this industry. It is making efforts to get expertise in regulatory approval and is looking at adopting new initiatives and policy. Hong Kong has a highly ageing population and the demand of healthcare is also substantial. Therefore, the objective of the association is to expedite regulatory environment in the country.

What is the role of HKAPI when it comes regulatory norms in Hong Kong?
We have 30 associate members companies along with 38 R&D based multinational companies as our members. These firms provide services to our full members, including the Hong Kong Science Park and law firm.