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Wednesday, October 05, 2005

China enters the biotechnology sector

China became the latest entry in the global market for biotech industry. I wrote about the entry of Malaysia and India earlier, but it is clear that countries see the sector as one locomotive of future growth - just think of Singapore, or Taiwan, which are also countries that made the sector development a priority.

The question now is: Is China steamrolling other initiatives? Just look at the numbers: "China already boasts more than 20 biotech parks dotted around the country and 500 biotech enterprises." And it sounds successful: "The aim is to nurture home-grown enterprises and encourage inward investment from foreign companies.

It appears to be bearing fruit, with China currently having more than 150 experimental drugs in clinical trials and a handful of Chinese-developed biotech products already reaching the local market, including the world's first licensed gene therapy treatment."

The challenge mentioned in the article, of course, relates to patents, but clearly, in the meantime, this appears to be one big wave emerging in the motherland.

(By Asia Business Consulting)