US leadership in biopharma sector is facing threat from China
What's the story
China's biopharmaceutical industry is said to be in an "innovation 2.0" phase, shifting toward commercialization. This shift could potentially help the country outpace global competitors and even the US, despite restrictive trade policies. A recent report by analytics firm Clarivate highlights this transition from a phase of rapid growth to one focused on quality development.
Innovation leap
China's drug innovation surpasses US
In recent years, China's innovative drug development has come close to and in some cases even surpassed that of the US. The shift from speed to quality, market trends to sustainable competitive advantages, and capital-driven growth to value-driven development is a major part of this transition. Alice Zeng, a senior consultant at Clarivate Life Sciences and Healthcare, emphasized China's focus on R&D over post-approval processes in the last decade.
Trade restrictions
US's response to China's biotech capabilities
The growing concerns over China's biotech capabilities have prompted the US to step up efforts to limit federal contracting with Chinese companies. However, these measures may not be as effective as expected, given China's expanding lead in drug innovation. The report by Clarivate highlights this trend and its potential implications for global biopharmaceutical competition.