Big challenges hit Chinese biotechs' global ambition

By Wang Fangqing

China’s biotech industry enjoyed significant growth in the past several years, but major bottlenecks are looming as Chinese biotechs aims for a global expansion, said speakers at the two-day event Chinatrials on November 11 in Shanghai.

“Our survey shows that less than 30% of experts believe China will enter developed market at scale by 2028,” said Josie Zhou, associate partner in McKinsey, adding that top reasons include China’s reimbursement policy, lagging on breakthrough innovation and the growing geopolitical tension.