Singapore: Oral drug delivery systems developer, Oramed Pharmaceuticals, announced that it received approval for a key patent from the State Intellectual Property Office of the People's Republic of China.

The patent titled 'Methods and compositions for oral administrations of proteins' covers a core concept of Oramed Pharmaceuticals' technology and has also been granted in New Zealand and South Africa. Oramed's portfolio now consists of eight issued patents and 27 patents pending.

"Our platform technology in the oral delivery of proteins applies to numerous treatment markets in geographies around the globe. China is a very important market for both our ORMD-0801 and ORMD-0901 technologies. As an innovative company committed to discovery, we are pleased to see our IP portfolio expand," Oramed CEO Mr Nadav Kidron said in a press statement.

China's healthcare sector is growing at an accelerated rate, with healthcare spending projected to grow from $357 billion in 2011-to-$1 trillion by 2020, according to a report by McKinsey & Company.