STAT+: In Shanghai’s ‘Science City,’ China’s ascendant biotechs make their pitch to the world

SHANGHAI — The biotech executives appeared triumphant.

It was a balmy, overcast Sunday here in the glimmer-and-glass “Science City” district, and the four leaders were on stage at the ballroom level of the five-star Hilton, joking about how much faster, cheaper, and more efficient drug development was here in China than anywhere else — certainly than the United States. (And God help Europe.)

Zhui Chen, co-founder of the now $6 billion Shanghai-based biotech Abbisko, recalled running a trial on a drug licensed to the German pharma Merck KGaA. Abbisko’s trial finished in 11 months, so quickly that Merck executives asked if Abbisko could train their staff.

Continue to STAT+ to read the full story…