The United States’s dominance in biotech innovation is crucial to our national interests and global security. In recent years, China has quickly become a powerhouse, bolstered by its biotech-friendly regulatory reforms and poised to soon surpass the U.S. Unfortunately, some of our government policies are undermining American advantages against China. Developing a new therapy takes more than a decade, costs billions of dollars, and faces high failure rates, making it a long, expensive, risky endeavor that government funding cannot accomplish. Private investment in biotech is a sweet deal for the public. When it fails, as the vast majority of attempts do, investors, not taxpayers, lose their money. When it succeeds, investors receive their returns, while current and future patients become the biggest winners. New therapies get cheaper over time as newer treatment options demonstrate better efficacy and patent protections expire. After all, every existing drug was once a new drug.
According to the Information Technology and Innovation Foundation, China’s share of global biopharma companies increased from 5% to 16% between 2017 and 2024, while our share decreased from 47% to 39%. China’s share of global biotech venture capital surged from 4% to 19% from 2010 to 2020, while our share declined from 69% to 62%. China-headquartered companies’ share of global clinical trial starts jumped from 3% to 28% from 2013 to 2023, while our share dwindled from 37% to 29%. China’s most-cited biotech publications nearly quintupled from 139 to 671, while ours shrank by one-third from 218 to 145.

Full story : How To Win The Biotech Innovation Race Against China?