Part 2/11:
Historically, China’s biotech industry was predominantly focused on manufacturing generic drugs, serving as a low-cost producer for global markets. However, in recent years, the country has embarked on a transformative journey towards innovation. Today, Chinese biotech firms are launching novel drugs, competing directly with Western pharmaceutical giants.
For instance, Ompic, the leading weight-loss drug globally in 2023, with sales around $14 billion, is produced by Novo Nordisk, a Danish company. Meanwhile, Chinese firms like Innov Biologics are preparing to launch their own weight-loss drugs within 2025, directly challenging Western products like Ompic.