The fastest way to lose the biotech race with China
China's biotech industry is rapidly advancing and may soon surpass the United States in several areas. U.S. lawmakers face a critical decision regarding drug pricing policies that could impact the future of American biotech leadership. Without significant changes, experts warn that the U.S. risks losing its competitive edge in biomedical research and development.
- ▪China is now initiating roughly the same number of clinical trials for novel drugs as the United States.
- ▪Hong Kong's biotech index climbed about 80% last year, while the U.S. index only gained 20%.
- ▪A bipartisan commission warns that U.S. policymakers have three years to reestablish biotech leadership or risk losing advantages to China.
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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. Hong Kong’s biotech index climbed about 80% last year, compared to the U.S. index’s 20% gain. And drugs originating in China are poised to account for over a third of FDA approvals by 2040. Recommended Stories Europe’s moral double standard on Israel is becoming impossible to ignore The media are wrong: It’s good that able-bodied adults are leaving food stamps Spain’s Zapatero exposed as Maduro’s fixer. Trump must extradite him now Recently, a bipartisan commission concluded that U.S.
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