Uncertainty breeds delay of innovation and volatility of markets. We are certainly seeing this play out amid these tense times between the U.S. and China, as both sides seem intent on ratcheting up aggressive trade practices.
Day one at the BIO International Convention’s China Summit included Josh Berlin of BioCentury addressing the obvious elephant in the room by leading a discussion on what companies can do to position themselves to avoid potential negative consequences from a trade war.
Next, Wendy Pan of BayHelix led a discussion on the ever-present need for access to capital within China and the innovative partnering strategies that can help open these markets to external investors. Michael Chan of the Hong Kong Exchange noted that the region has become the second largest fundraising hub in the world, which is attracting more types of innovative healthcare companies from both the U.S. and Asia.
Monica He, BIO’s Director for International Affairs led the Summit’s final session by addressing China’s rapidly aging population, estimated to reach 39 percent of the total population by 2050. This will create significant pressure on economic growth and pose substantial societal and healthcare challenges, including expenditures and difficulties in managing patient access, quality of health care, and governmental budgets. This remarkable demographic shift will create market opportunities, as well as the need for innovative healthcare paradigms.
For a deeper dive into how biotech will be the next growth engine for Asia, BIO is partnering with the Taiwan Bio-Industry Organization (Taiwan BIO) to present BIO Asia-Taiwan from July 24-28, 2019 in Taipei, Taiwan. More than 1,500 people from 25 countries are expected to attend.