2023-05-31 19:44:57
DECRYPTION – The Middle Kingdom has dethroned Europe in cancer R&D. A result that shows the rise of the country’s pharmaceutical industry.
We now have to reckon with China on the global pharmaceutical scene. If the Middle Kingdom remains associated in the collective imagination with the manufacture of copies of drugs or their generic versions, it no longer intends to play the supporting roles.
Oncology, which is the largest and most profitable segment of the market, illustrates the rise of China. While the Asco, the high mass of the sector, will open on June 2 in Chicago, the latest annual report from the Iqvia firm highlights a change in the balance of power. Admittedly, the United States still accounts for nearly half of global oncology spending (drugs and treatments), which were 196 billion dollars last year (+ 4%) and should reach 375 billion within five years. But spending by the Middle Kingdom in this area has more than doubled in five years, rising from 5 to 11.8 billion dollars. Growth driven by “wider access of the population to new treatments…
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