China biotech's 'coming-out party' masks long road ahead as innovation still lacking
An under-developed academic ecosystem and a preoccupation with generic drugs are also obstacles
Shanghai
INVESTORS are betting on China's potential to feed the global pharmaceutical pipeline, putting a multibillion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West.
Shares in firms such as Chi-Med, Beigene and Zai Lab have soared on international markets this year, fuelled by hopes for their drugs and recent reforms to China's regulatory system that should speed up approvals.
"It's almost a comi…
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