Biopharma divides over China response

(Caitlin Owens – Axios) The life sciences community is splintering over how the U.S. should respond to China’s rapid biotech advances — specifically over whether more protectionist policies are needed to preserve American dominance. The debate features a complicated web of national security concerns, high-stakes financial interests and, ultimately, the question of what is best for patients. It’s both cheaper and faster to do early-stage drug development in China than in the U.S., and that reality is now being reflected in where large pharmaceutical companies like Bristol Myers Squibb and Pfizer are spending their money. “China is now the main source of licensing assets for Western pharma, and for a growing class of built-to-buy biotechs,” a recent Evaluate report declares. Evaluate projects that Chinese assets will make up more than two-thirds of total industry deal value this year, an increase from 42% just last year and 5% five years ago. Some skeptics warn that the strategy of rapidly snapping up Chinese-developed experimental drugs is shortsighted or even dangerous. – Biopharma divides over China response