The biotech industry hopes to strengthen its relationships with members of the Chinese biotech community and government in order to help strengthen and support the growth of the biotech industry within the country. The Western biotechnology industry is committed to encouraging China to strengthen its support for biotech innovation and taking steps to enhance greater investment, as well as collaboration between companies.
Emerging companies are particularly dependent on government laws and regulations that encourage and reward innovation. Biotech products must receive timely and high quality reviews that ensure the safety and effi cacy of the products while expediting the delivery of new therapies and technologies to patients and into the marketplace.
Intellectual property laws are the driving force for innovation and biotech progress. Investors and innovators will do business where they have confi dence that their intellectual property will be protected. The greater assurances countries can offer through laws and the consistent enforcement of those laws to protect patents, the more biotech innovation will flourish within their borders.
Respecting that each country is unique; there are several factors that may contribute to growth in the biotech industry in any country. Scientifi c American's Worldview 2011 assesses individual countries' efforts in trying to build and grow biotech hubs. China's standing in the report is somewhat mixed – the country scored high in the education/workforce measurement, the number of published papers, and China's standing in the overall scores increased this year; China scored low on IP, investment in innovation and overall intensity (measurement of a country's overall efforts to drive biotech innovation). The overall ranking is 30 among the 48 countries ranked.
Leading pharmaceutical companies recognized the potential in China and many jumped on the band wagon early and now have a presence there, including Pfi zer, Merck and Lilly, and more companies are set to join them soon. In addition, many biotech companies have taken a strong interest, but are unsure of how to engage in business development activities in China.
BIO is invested in the Chinese economy for the long term. BIO Member Companies are exporting more products and technology to China than ever and want to contribute to a strong and positive U.S.-China commercial relationship.
BIO Member Companies operate in nearly every market and China is the focus of international priorities right now. BIO and its members have been closely watching China's development and implementation of its ambitious healthcare reform plan, including the massive investments into the healthcare sector to provide universal coverage for health insurance, reform hospital administration, and increase primary care in rural parts of China.
BIO Member Companies stand ready to work with leaders in China to create an environment that will support and encourage innovation, and enable boundless growth in biotech. BIO urges the Chinese government to continue to welcome foreign investment and competition in China's biotech sector.
The biotech sector has the potential to create high-value, highwage jobs around the globe and provide solutions to many of the problems that vex our planet like healing, fueling, and feeding the world. BIO looks forward to continuing efforts and activities focused on bringing this value to China.