Start with the Ingredients, End with Value Capture: How China Is Disrupting Biotech

Start with the ingredients. End with the value capture. China is disrupting biotech asset creation.

The entry point was APIs, then medicinal chemistry, then biological assays. From execution into capability.

Next came full asset origination, China-origin assets now accounting for more than 25% of global licensing deals.

Now early clinical trials and proof-of-concept data, accelerated by regulatory speed and development velocity.

Execution → Assets → Validation.

Each step moves closer to where biotech profit pools concentrate.

Capability climbs. Value follows.