Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
Pfizer: CN Biopharma Sector Shows Astonishing Growth; US Drug Industry Must Collaborate with CN
Recommend 56 Positive 99 Negative 19 |
||||
|
||||
|
Albert Bourla, Pfizer (PFE.US) CEO, said that the US pharma industry needs to work with China, noting that China's rapid R&D processes have accounted for 30% of global drug development over the past decade. China is reshaping the global competitive landscape with its remarkable speed, cost efficiency, and scale in the biopharmaceutical field, Bourla emphasized. China currently has around 1,200 new drug candidates in development, compared with only about 60 a decade ago. Amid the US-China trade tensions, Pfizer reached an agreement with 3SBIO (01530.HK) earlier this year to license an experimental cancer therapy. Pfizer will make an upfront payment of USD1.25 billion and up to an additional USD4.8 billion upon achieving development milestones. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
