The biotechnology industry is experiencing a tectonic shift, driven by Chinese drugmakers who have come a long way from their copycat days to challenge Western dominance on innovation.
The number of novel drugs in China ¡ª for cancer, weight-loss and more ¡ª entering into development ballooned to over 1,250 last year, far surpassing the European Union and nearly catching up to the United States¡¯ count of about 1,440, an exclusive Bloomberg News analysis showed.
And the drug candidates from the land once notorious for cheap knock-offs and quality issues are increasingly clearing high bars to win recognition from both drug regulators and Western pharmaceutical giants.
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