Growth of pharmaceutical R&D in China

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The Economist has an interesting article summarizing the growing strength of Chinese pharmaceutical R&D. An excerpt is below:

In 2016 the country became the world’s second biggest drug market. In 2018 sales reached $137bn, doubling in just six years. They are projected to be worth half of America’s by 2030, up from a quarter now. Much of this will come not from foreign drugmakers but domestic ones…Five of the world’s ten biggest biotech initial public offerings in the first half of this year were of Chinese companies, which collectively raised $1.6bn…In 2017 China overtook America in clinical trials of novel treatments that reprogramme patients’ immune cells to fight cancer.

More interesting details throughout.

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