The escalating trade tensions between the US and China dominate global headlines, often focusing on tariffs and the immediate economic impacts. But for the pharmaceutical industry, this narrative misses a critical story unfolding today: the rise of China as a leading force in biopharma innovation and the profound implications for leading global companies.
For years, the prevailing Western view of China’s pharma industry was one of a large, low-cost manufacturing base for key starting materials and generics – essentially, a source of commodity products and copycats. The speed and scale at which China could transition towards true innovation was unprecedented. The focus remained primarily on traditional research and development hubs and markets in the West. However, the definition of success for China in this sector has fundamentally changed. There has been a clear shift from “Made in China” to “Created in China.” Success is now defined by gaining global recognition across the value chain, from their clinical research to the launch of innovative therapies.
