The rapid rise of China’s nascent biomedicine capability shows how policy support and regulatory reform can transform an industry and rally the capital necessary to grow it.
China has the world’s second-largest drug sector.
Consider this: one in four new global cancer cases are now in China and over 100 million Chinese people have diabetes – the largest diabetic community in the world. This makes the country highly dependent on expensive imported drugs and patents, a dependence the government wants to reduce with homegrown and affordable innovative biomedicine.
Get more analysis from Mark Haefele, UBS Chief Investment Officer, Global Wealth Management, in UBS House View. UBS is YPO’s Global Strategic Partner — Wealth Management.