R&D of innovative drugs is one of the key factors to improve the core competitiveness of the pharmaceutical industry in China，and its development is of great social and economic benefits. This article is to compare the present condition of research and development of innovative drugs in China and US，analyze the control and incentive policies for R&D of innovative drugs and indentify the differences，and propose the suggestions for further improving China’s drug research and development policies based on the advanced experience of US.