Chinese biotech leaders showcase speed and cost advantages in Shanghai
Biotech executives from China gathered in Shanghai's Science City district to highlight the efficiency of their local drug development sector.
Executives compare industry speeds
Four leaders spoke at a ballroom event inside a five-star Hilton hotel. They joked that drug creation is faster and cheaper in China than in the United States or Europe. One co-founder recalled finishing a trial for Merck KGaA in just 11 months.
Merck seeks local training
The German pharmaceutical company asked if Abbisko could train their staff after seeing the rapid results. The biotech firm is based in Shanghai and has a valuation of six billion dollars. This quick turnaround impressed the executives from the German pharma giant.
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