Why the drug industry's center of gravity is shifting to China

An Expert View from Ethan Smith, Director of Oncology, Norstella.

For most of the past two decades, the flow of pharmaceutical innovation followed a familiar route. Assets originated in the USA and Europe, and China was a destination market. That model has all but gone. China is now a net exporter of drug rights, and the Western companies that once sold into it are increasingly buying out of it. For any pharma company building a pipeline or planning a business development strategy, understanding why this has happened is crucial.