Analysis On The Impact Of Technology Innovation Input On Output Performance Of Chinese Pharmaceutical Industry

The pharmaceutical manufacturing industry is one of the high-tech industries.It has the characteristics of high technology and is closely related to people's lives.Since 1978,China has introduced a series of related policies to promote the development of the pharmaceutical industry,and residents are also more concerned about their own health.Since China joined the WTO in 2002,opening to the outside world provided a huge space for the development of China's pharmaceutical manufacturing industry and also brought great competitive pressures.The extensive growth mode of China's traditional pharmaceutical industry has already faced a situation that is difficult to sustain.The development of the pharmaceutical industry is facing severe challenges.In order to change this situation and gain greater market share in international competition,accelerating the pace of technological innovation,increasing the efficiency of technological innovation and Changing the growth mode of China's pharmaceutical economy have become an important issue that needs to be studied at present.According to the statistical data of the high-tech yearbook,the export value of China's pharmaceutical sub-sectors has increased year by year.The chemical pharmaceutical manufacturing industry has the highest share of exports.The proportion of chemical raw medicine is relatively large,which locks China's pharmaceutical industry at the low end of global value chain.China's proprietary Chinese medicine industry has a shortage of funds and low product profits.There are fewer companies specializing in R&D and production of proprietary Chinese medicines,all of which have caused the backwardness of the proprietary Chinese medicine industry.While the bio-pharmaceutical manufacturing industry started late and the foundation is weak.There is an urgent need to strengthen the basic research of biotechnology applications,strengthen the construction of biotechnology infrastructure,and increase the level of research and development.In general,the level of technological innovation in China's pharmaceutical industry is not high,and it is urgent to strengthen the intensity of technological innovation input to promote the improvement of the pharmaceutical industry's ability to innovate.In order to study the relationship between technological innovation input and output performance,this paper adopts the panel data of the pharmaceutical industries in each province from 2005 to 2016,and uses the factor analysis method to divide eight variables of technological innovation investment into two categories,namely the input of intangible assets and fixed assets.The author also adds control variables,using the sales revenue of new products and the number of patent applications as the output indicators of technological innovation,to conduct a fixed effect analysis.It is found that intangible assets and fixed asset investment can both increase the sales revenue of new products and the number of patent applications.The degree of marketization and the improvement of corporate profitability are also conducive to the increase in the sales revenue of new products and the number of patent applications,and the dependence on exports can hinder the increase in the sales revenue of new products and the number of patent applications.Finally,the article gives policy recommendations on the development of the pharmaceutical industry from the government,industry,and corporate aspects,and seeks suitable development paths for the pharmaceutical industry.