The veteran investor says that the trove of ready-made prospects is making the global biotech ecosystem “more competitive” and steering dollars away from “half-baked ideas.”

The veteran investor says that the trove of ready-made prospects is making the global biotech ecosystem “more competitive” and steering dollars away from “half-baked ideas.”

China is working hard to unseat America as the world's biotech leader. It has spent years bolstering incentives and capacity for domestic innovation.