China biotech’s stunning advance challenges the West

Industry Innovation & Competition - Chinese biotech companies are developing numerous drugs similar to Ompic, potentially challenging US and EU medical advancements [1] - China is playing an increasingly significant role in developing innovative medicines for serious diseases like cancer and cardiovascular conditions [2] - Chinese drug makers are studying a significantly higher number of new drug candidates compared to the EU and are approaching the US in this regard [2] - An increasing number of Chinese drugs are demonstrating sufficient quality to be fast-tracked by major Western regulators [3] - A Chinese drug outperformed a US company's world-leading cancer drug in a study last year [3] US-China Tech Rivalry & Market Dynamics - The US-China tech rivalry is extending to the medical innovation field [4] - Big pharma companies are investing heavily in acquiring Chinese medical innovations for US and European markets [4] - Some Chinese drugs are already available in US and European markets [4]