China Pharma Embraces AI Tools Amid Globalization Challenges
Plus, Senior EU Leaders Seek Level Playing Field
The Chinese biopharma industry is eager to use the latest artificial intelligence technology to boost efficiency and lighten workloads, as companies deal with drastic change and look to improve their understanding of foreign markets. Meanwhile, senior European leaders called for a level playing field during a recent visit to China.
You may also be interested in...
Deal Snapshot: Two years into a three-year partnership with Lilly, Verge announced another deal, with AstraZeneca’s Alexion, just months after acquiring bragging rights with early clinical data for an AI-discovered product candidate.
Slower approvals for foreign drugs, a volume-based procurement scheme and localization requirements caused nearly 80% of respondent European pharma firms to miss out on opportunities in China, where they also continue to decouple from headquarters in a “in China-for-China” strategy, a survey from a prominent EU business group shows.
Following in the steps of Merck & Co. and GSK, Pfizer is turning to a Chinese partner to more broadly market one of its top vaccines in the country - but the US firm is going one step further.