A collection of notable recent developments in the Chinese pharmaceutical industry indicates that despite ongoing political tensions, multinational pharmaceutical companies still find China an appealing market for investment.
AstraZeneca defies geopolitics to bet on China – Financial Times (paywalled)
AstraZeneca’s CEO expressed his excitement about the surge of biotech companies in China and the potential for his company to introduce drugs developed in China to the global market. Despite concerns about “economic coercion” from China and the US scrutinizing Chinese biotech investments, AstraZeneca remains focused on leveraging its position as the leading foreign pharmaceutical company in China.
Moderna looks for opportunities in China after registering legal entity – Reuters
Moderna Inc., a vaccine manufacturer, has established a legal entity in China and is actively seeking opportunities in the country. The registration of Moderna (China) Biotech Ltd in Shanghai signifies the company’s interest in bringing the benefits of its mRNA platform to the Chinese population. Moderna aims to explore the market and contribute to healthcare advancements in China.
Sanofi to up synergy with Chinese pharma market – China Daily
Sanofi, a French pharmaceutical company, plans to enhance its integration into the Chinese pharmaceutical market. It aims to modernize its manufacturing sites and research network in China, collaborate on drug research and development, and share innovative therapies. Sanofi aims to become a “local-multinational” pharmaceutical company, reinforcing its commitment to the Chinese market through increased investment and cross-border integration.
Aurobindo Pharma completes plant installation in China – The Hindu Business Line
Aurobindo Pharma has successfully completed the installation of its plant in China and expects to commence operations in the next fiscal quarter. The company intends to file product applications with Chinese regulators and initiate European exports. Aurobindo Pharma’s expansion plans also include commissioning three other plants, including one in the US, in the near future.
The US is relying more on China for pharmaceuticals — and vice versa – Atlantic Council
The US-China trade relationship is undergoing changes due to the trade war and the impact of the Covid-19 pandemic. While trade in some sectors has decreased, the pharmaceutical industry has experienced significant growth in bilateral trade between the US and China. Pharmaceutical products, particularly advanced medicines like cancer treatments and antibiotics, have become prominent contributors to this trade relationship.
China’s $220 Billion Biotech Initiative Is Struggling to Take Off – Bloomberg (paywalled)
Despite substantial investments and notable initial public offerings, China’s biotech initiative, valued at $220 billion, has faced challenges in gaining momentum. Only this year did the nation approve its first mRNA vaccine. Li Hangwen, a cancer researcher inspired by Moderna Inc., redirected his efforts toward developing a Covid-19 vaccine in response to the outbreak in Wuhan. This development highlights the struggle of China’s biotech industry despite significant investments made in recent years.