Big Pharma's Future Growth Rests on Chinese Science? Expert Says: 'We Can't Ban Our Way Out of This'
Key takeaways
- China's rise in biotech threatens the US's competitive edge and access to new cancer drugs.
- 40% of all clinical studies in oncology in the world are in China
- Roughly a third of the new drugs Big Pharma licensed in came from Chinese labs
- China has surpassed the US in clinical drug development and supply chain
What happened
China has surpassed the US in clinical drug development and supply chain, according to a June Cure Innovation Index survey, with Big Pharma signing billion-dollar deals for Chinese-developed medicines.
Why it matters
This shift in dominance raises concerns about the US's ability to compete in the biotech industry, with experts warning that the country may cede military, geopolitical, and economic advantages to China.
Short-term and longer-term
Short-term. The shift in dominance in biotech may impact the stock prices of companies involved in the industry, with potential for increased volatility.
Longer-term. The US's decline in biotech may have long-term implications for the country's economy, including reduced access to new cancer drugs and increased dependence on Chinese biotech.