Over the past decade, both biotech and pharma have increasingly seen a tendency to research, fund and develop products that largely could be considered ‘variations on a theme’, or more particularly, a few, highly developed but low-risk areas of focus.
This has not only locked venture and development capital into a limited number of funding targets – the so-called ‘target herding’ effect. More worryingly, it also discourages exactly the kinds of risk-taking that usually lets American firms to stay on the cutting-edge of research and retain their global competitive advantage.
As the Chinese government continues to grow its direct and indirect subsidies for drug research, the need to be forward-thinking only increases.
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