China’s biotechnology industry is undergoing a significant transformation as its drugmakers, once known for producing copycat products, now rival Western companies in innovation. The number of novel drugs in development in China for various conditions, including cancer and weight loss, has surged to over 1,250 in the past year. This figure surpasses the European Union and nearly matches the United States, which has approximately 1,440 drugs in development, according to a Bloomberg News analysis.
These drug candidates from China are increasingly meeting stringent regulatory standards and gaining recognition from Western pharmaceutical giants. The analysis, which was based on a database maintained by Norstella, a provider of pharmaceutical intelligence solutions, indicates a fundamental shift in the centre of medical innovation. This development positions China as a key player in the global pharmaceutical landscape.
With potential tariffs looming on the pharmaceutical sector, China’s rapidly advancing biotech industry could become another area of competition between global superpowers, similar to artificial intelligence and electric vehicles. The scale of China’s biotech advancements is increasingly apparent, marking a new era of pharmaceutical innovation and competition on a global scale.
“The scale itself is not something we’ve seen before,” said Helen Chen, managing partner at LEK Consulting in Shanghai. Chen, who advises healthcare companies on their China strategy, added that the products being developed are attractive, innovative, and rapidly emerging in the market.
