health
The fastest way to lose the biotech race with China
China’s biotech industry is only barely trailing — and in some areas, is already surpassing — America’s. China now initiates roughly the same number of clinical trials for novel drugs as the United States. Chinese biotechs are far outpacing their American competitors in the stock market.
TL;DR
- China's biotech industry is rapidly advancing and challenging U.S. leadership.
- Chinese biotechs are outperforming U.S. competitors in the stock market.
- Drug price controls in the U.S. could significantly reduce R&D investment.
- Such policies would disproportionately harm smaller biotechs and startups.
- Europe's experience with price controls led to a decline in its biopharmaceutical R&D.
- Failure to act could result in China dominating the global biotech sector.