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Goldman Sachs Says China Biotech Is Where Big Pharma Is Shopping Now
Big pharma is sourcing assets from China biotech as $440 billion of drugs lose patents through 2032, Goldman Sachs says. Salveen Richter, the bank’s lead US biotech analyst, says Chinese rivals could shorten product cycles at Western drugmakers.
Yet China’s five-year pharma plan, published Sept. 18, targets at least 25% of global first-in-class drugs by 2030. Those are medicines that work through a new mechanism rather than improving an existing drug.
AstraZeneca agreed last week to invest $2 billion in US-listed Summit Therapeutics. Summit licenses its lead cancer drug from China’s Akeso.
Overseas licensing deals for Chinese drugs have reached more than $120 billion in total value this year, Xinhua reported. That is up 36% from a year earlier.
