At a Jefferies investors conference in Shanghai's Science City district, Chinese biotech executives presented a confident case for their industry's global competitiveness. Speaking at a Hilton ballroom, they argued that drug development in China is markedly faster, cheaper, and more efficient than in the US or Europe.
Zhui Chen, co-founder of the $6 billion Shanghai biotech Abbisko, offered a concrete example. He said a trial for a drug licensed to Merck KGaA was completed in 11 months, a pace that led the German pharma to ask whether Abbisko could train its staff.
The conference, the first of its kind by Jefferies in the metropolis, underscores how Chinese biotechs are increasingly pitching their capabilities to global investors and partners. The executives' tone was triumphant, reflecting a sector that sees its operational speed as a key selling point.