Although a start-up’s recent triumph is seen as a ‘DeepSeek moment’, domestic players still trail world-beating pharma firms, experts say
When Zhao Hong, chief doctor of China’s leading cancer hospital at the Chinese Academy of Medical Sciences, told his fellow delegates at a Communist Party meeting in March that a little-known Guangzhou biotech firm’s cancer drug had beaten the world’s bestselling medicine, investors took notice.
“As a long-serving front-line doctor, my most profound feeling is that China is at the best time of its biopharmaceutical sector’s development,” he told state media on the sidelines of the annual Chinese People’s Political Consultative Conference. “In the past year, besides having the world’s second biggest number of novel drugs under development, China has also witnessed a domestic novel drug outclassing the planet’s number one cancer drug.”
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