23 November 2025 - Its fast moving, cut price drugmakers stand to make more money abroad than at home.

After Amecica, China is the world's largest developer of new medicines and its companies ran about a third of the planet's clinical trials last year. That is up from just 5% a decade before. It is also rising to the forefront in critical areas of research, such as those relating to cancer. Investors have taken note. Shares in Chinese biotech companies have surged by 110% this year, more than three times as much as their American peers.

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