Chinese biopharmaceutical companies are gaining prominence in global drug development. In contrast to previous views that saw them as “cost-effective fast followers,” they’re now contributing significantly to innovative treatments. According to Goldman Sachs Research, a quarter of innovative drug candidates under active development originate from China. The country has become an essential source of innovation for global pharmaceutical companies.
Chinese biopharma firms are focusing on cancer therapies, dominating the global development of antibody drug conjugates (ADCs) and bispecific antibodies. They’re also exploring areas like RNA interference, cell therapy treatments, inflammation, immunology, and metabolism. This growth is attributed to government regulatory reforms, changes in healthcare spending, and access to affordable early-stage research.
While US approval rates for Chinese-developed innovative drugs are limited, several have changed treatment approaches for specific diseases. Factors contributing to China’s success include streamlined decision-making, a strong culture of fundamental research, and a concentrated ecosystem of contract research organizations and biotech collaborators. As a result, Chinese biopharma companies can rapidly move through the drug development process.
This growth is driven by factors such as government support, access to funding, and investment in research capabilities. The rapid development pace of Chinese biotech companies has made them an essential player in global drug development.
Source: https://www.goldmansachs.com/insights/articles/china-is-increasing-its-share-of-global-drug-development