China challenges US in new drugs after industry transformation



China challenges US in new drugs after industry transformation
In barely a decade, China has transformed from a maker of cheap generic copies of Western medicines into a global powerhouse of pharmaceutical innovation.
The country now only trails the United States in novel drugs under development, with a 29 per cent share, according to McKinsey. International pharmaceutical companies are beating a path to China’s shores to license next-generation treatments for cancer, autoimmune diseases and other disorders.
Government support, including regulatory and…

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