US Pharma Firms Rely on Chinese Biotech for Pipeline Success
Despite Washington's efforts to decouple from Beijing's biomedical sector, major US pharmaceutical companies are accelerating partnerships with Chinese biotech firms. Bristol Myers Squibb Inc. signed a $15.2 billion collaboration with Jiangsu Hengrui Pharmaceuticals in May, covering 13 early-stage programs in oncology, hematology, and immunology. Merck & Co. reached a $2 billion licensing agreement in March for HRS-5346, a cardiovascular drug developed entirely in China.
A June Cure Innovation Index survey found that China has pulled ahead of the United States in clinical drug development and supply chain capabilities. Dr. Nathan Goodyear noted that roughly a third of new drugs Big Pharma licensed recently came from Chinese labs, compared to almost none a decade ago.
Pfizer Chief International Commercial Officer Alexandre de Germay stated that 40% of all clinical studies in oncology worldwide are now in China. This concentration suggests that US firms view Chinese innovation as critical to their pipelines, potentially outweighing geopolitical risks.