China’s State Council has released a set of guidelines aimed at improving the business environment for foreign investment, with a particular focus on the biopharmaceutical industry. However, at the same time, the Chinese government is cracking down on corruption in the healthcare industry, which has raised concerns for investors. The anti-corruption campaign has hindered hospitals from forming new partnerships and has caused doctors to be reluctant to prescribe imported drugs. Additionally, the Chinese government has implemented stricter regulations on genetic data, which may limit foreign access to such data. In the US, there is growing pressure on pharmaceutical companies to avoid risky investments and cooperation with China. The political viability of bilateral science and technology cooperation between the US and China, particularly in the biopharmaceutical sector, is weaker than ever. These developments have created a challenging environment for foreign pharmaceutical firms in China. While some companies have committed to new joint ventures in the Chinese market, others are reconsidering their investments. Despite the challenges, China’s biopharmaceutical and healthcare markets still offer potential for companies seeking research opportunities and manufacturing capabilities. Innovation and investment in the sector are likely to rely more on joint partnerships and globalized research and development in the future.
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