China’s biopharmaceutical sector has experienced remarkable growth over the past decade, transforming the country into a significant player in global drug development. By 2024, 26.7% of all development-stage drugs will involve Chinese R&D, highlighting the region’s rising prominence in the biopharma industry.
This shift has become a focal point of discussions at international conferences, where experts explore China’s role as an innovation hub, its growing influence, and its evolving funding landscape. At this year’s BIO-Europe Spring conference in Milan, Italy, a panel of industry leaders discussed how innovation from China and Asia is reshaping the global biopharma landscape.
William Pay, venture partner at Pappas Capital, described the rapid development of the biopharma sector in the Asia Pacific (APAC) region as a historical phenomenon. “China is leapfrogging into a leading position in certain areas,” he said, pointing out the country’s emerging dominance in biopharmaceutical innovation.
A key factor in China’s success, according to Pay, is its growing talent pool. The country has seen a significant influx of professionals returning from abroad, bringing valuable knowledge and experience gained in the United States. This talent migration is reshaping China’s biopharma landscape, contributing to the country’s increasing prominence in the industry.
The term “sea turtle” has been used to describe these professionals who return to China after years of study and work abroad. Traditionally, many of these individuals would stay overseas, but the demand for their expertise in China, coupled with competitive wages and benefits, has enticed them to come back. This trend has played a significant role in China’s growing innovation power in the biopharma sector.
Tomas Landh, vice president of innovation sourcing at Novo Nordisk, echoed Pay’s perspective, emphasizing China’s long-standing efforts to attract talent. “What China did 20 years ago in attracting talent for basic research is paying off today,” he said, noting the country’s success in nurturing a strong foundation for scientific advancement.
A 2021 report by Deloitte, titled “Outlook on Biopharma Innovation Trends in China,” highlighted how the return of overseas talent and the accumulation of technological expertise are driving China’s biopharma companies to align themselves with international standards, further enhancing their innovation capabilities.
While talent migration is a crucial factor, Pay stressed the importance of having not just skilled professionals but also geniuses in the field. “Behind biotech and science, you need top talent, but you also need geniuses,” he remarked, emphasizing that large population centers like China offer a rich pool of both.
With a population of approximately 1.4 billion people, China’s vast demographic base supports clinical trials and provides a large, eager participant pool, further bolstering the country’s position in the global biopharma industry.
