毕马威：中国生物科技发展步入“快车道”

Core Insights - The report by KPMG highlights that China's policy dividends are driving the domestic innovative drug sector into a golden development period, with AI reshaping the R&D paradigm and efficiency, leading CDMOs to shift from "cost competition" to "value creation" strategies [1][2] Group 1: AI and Drug Development - AI has permeated all aspects of drug development, particularly in precision medicine, where its application has improved gene editing accuracy from 85% to over 98%, facilitating clinical translation for gene therapies [1] - The integration of technologies such as AI, 5G, and big data with fields like bioinformatics and nanotechnology is creating new research directions and treatment methods, including AI drug development and innovative Chinese medicine [2] Group 2: Globalization of Chinese Biotech - The globalization of Chinese biopharmaceuticals has shifted from an optional strategy to a necessity, with a notable increase in License-out transactions since 2020, and the NewCo model becoming a standardized pathway for new drug internationalization [1] - Emerging markets, particularly those involved in the Belt and Road Initiative, are becoming significant new markets for Chinese innovative drug companies, diversifying their geographic strategy and reducing reliance on single markets [1] Group 3: Investment and Policy Landscape - Various factors are accelerating the restructuring of foreign pharmaceutical investments in China, while Chinese companies are exploring diversified global innovation models, marking a transition from "catching up" to "leading" in the biotech sector [2] - Systematic support in the Chinese biotech field is being driven by policy, focusing on collaborative innovation across the entire value chain, capital ecosystem reconstruction, expedited review processes, and payment mechanism reforms [2]