Chinese biotech firms see global expansion as irreversible despite US barriers

Chinese biotech companies view global expansion as unstoppable despite US regulatory hurdles, according to executives speaking at the Hong Kong Exchanges and Clearing's Future Tech Summit in Shenzhen on Thursday. Zhang Jun, co-head of the global healthcare group at Citic Securities, stated that US non-tariff barriers have been erected for Chinese firms, but the trend of commercializing products globally is irreversible. He noted that European markets, facing tight fiscal conditions, are more receptive to Chinese innovative drugs and medical devices due to cost-performance advantages. Ren Feng, co-CEO and chief scientific officer of Insilico Medicine, emphasized that international expansion is essential, as focusing solely on China makes it difficult to build a large future. He identified a lack of large overseas clinical teams as a weakness, making business development deals the only viable path. Overseas markets, particularly the US, remain the most profitable segment of the global pharmaceutical value chain. The summit highlighted the increasing reliance of Chinese drug makers on overseas licensing deals amid growing geopolitical tensions.