China gearing up to take on pharmaceutical giants, drive biotech boom: innovator

Chinese-American biochemist Wang Xiaodong says Chinese research is moving into developing innovative new medicines

The Shaw Prize laureate says the move could cause a disruption similar to the one seen in hi-tech industries

Reading Time:5 minutes

China now has 10,000 sizeable pharmaceutical enterprises researching the second-highest number of new medicines in the world, according to government data. Photo: Xinhua

Published: 4:00pm, 23 Nov 2023Updated: 4:01pm, 23 Nov 2023

China will drive the next research boom in innovative medicines, thanks to intensified investments, scientific advances and diligent researchers, according to a leading Chinese-American biochemist.

Wang Xiaodong, director of the National Institute of Biological Sciences in Beijing, was speaking on the sidelines of last week’s Hong Kong Laureate Forum, which brought together more than 20 Shaw Prize laureates and about 200 young scientists from around the world.

Wang is also co-founder of BeiGene, a biotech firm focused on oncology treatments that has so far brought three innovative medicines to market, each developed from its own in-house research.

BeiGene had the highest pharmaceutical R&D expenditure in China in 2021, spending US$1.4 billion, according to data and analytics company GlobalData.

The company is not alone, with China now home to more than 10,000 sizeable pharmaceutical enterprises researching the second-highest number of new medicines in the world, according to the industry and information technology ministry.

Recent years have seen a significant boost in China’s investment in pharmaceutical R&D– from government and companies – driven by concerns that the US – long the biotechnology leader – could expand its technology sanctions to include essential medicines.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x