Biopharmaceuticals are perhaps among the most elegant achievements in modern science and the biggest contributor to human health.
Boosted by preferential policies in research budgets, talent cultivation and tax breaks, thousands of biopharmaceutical companies have emerged all around China. Biological and medical laboratories from top universities have been encouraged to engage in biopharmaceutical development. Despite that China lags behind in biopharmaceutical research and manufacturing, the biopharmaceutical industry is still one of the most promising industries in China.
Biopharmaceutical research is heavy in capital, technology and talent. Risks are evident in the sector include that it usually takes years before tangible results can be made. Trust issues have not been solved with Chinese patients, who would still prefer imported drugs even if they have to spend more to foot the bill. Since the government is introducing various measures to help boost the sector and biopharmaceutical companies are gaining more support from the capital market, industry insiders believe it is the best time for biopharmaceutical research and development in China.
Chinese biopharmaceutical researchers and developers are yet to be able to compete with established international brands. The effort to produce the world’s top biopharmaceuticals hasn't changed as Chinese biopharmaceuticals are gradually gaining recognition from patients. With entrepreneurial spirits and expertise, they are carrying with them big visions for the future.