China’s pharmaceutical industry is on the brink of enormous growth and transformation. In just a few years, it has moved on from being the world’s cheapest source of active pharmaceutical ingredients to becoming a major hub for pharmaceutical innovation – a place where new, more effective drugs are born.
It is now the second-largest developer of drugs, trailing only the United States. In the global drug development pipeline, China’s growth rate is phenomenal, leaping from 3 per cent in 2013 to…