I spent nearly two decades covering the biotech and pharma sector, first in Washington, D.C., and then in Beijing. My first story, published in 2007, covered the U.S. Food and Drug Administration’s decision to open its inaugural overseas office in China, a fast-emerging market I later covered for 12 years.
In that time, I saw a lot of discussion about what the growth of China’s biotech sector would mean for the U.S. Never have I been more concerned about that discourse than I am now.
In recent years, China has become a biotech innovator, accounting for 34% of roughly 14,088 new drugs in global clinical development, leading the United States’ 27%. China is now contributing to 40% of new drugs entering clinical stage each year, according to data provider Pharmcube. The company also noted that China’s out-licensing deals rose nearly tenfold from 2021 to 2025, to an record $137.7 billion. Amid all of this are concerns about stolen intellectual property and the China government’s state-run companies.
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