The headlines report almost daily news of trade tensions between the United States and China. In life sciences, however, China offers an unprecedented opportunity for U.S. biopharmaceutical and medical device companies:
- large commercial markets with expanding health insurance;
- regulations for product development and approval increasingly harmonized to international standards;
- an ecosystem of government-supported “incubators,” private venture capital and highly educated entrepreneurs building new companies on innovative science; and
- new public listing venues in Hong Kong and Shanghai for life sciences companies.
So, despite the trade-related headwinds, the question for U.S. life sciences companies is not whether to engage with China—but how?