China set to compete with global drug giants in a decade, analysts say
Amid systemic efficiency and a wave of innovation, the country’s biotech sector is expanding at a pace that has caught the market off guard
Thanks to an efficiency edge that transcends simple cost advantages, China is set to see the emergence of a home-grown drug giant capable of competing with global players in a decade, analysts say.
“For the past three decades, there was only one global research and development ecosystem, which was the US,” said Fu Wei, founder and CEO of CBC Group, a healthcare-dedicated asset management firm founded in Shanghai and now based in Singapore.
“Ten years from now, we will definitely see a Chinese Big Pharma emerging in its home market.”
However, Fu said that building a globally competitive pharmaceutical powerhouse with Chinese roots will be a long-term process.
“The biopharma industry – unlike other industries – requires years of regulatory approvals, deep product pipelines with hundreds of new drugs, and next-generation technologies before companies can achieve a meaningful market impact,” Fu said.