Excerpt from an excellent NYTs article today.:
"...Chinese biotechs are increasingly becoming the place where the world’s most consequential clinical research gets done: In fact, around half of drugs licensed by Big Pharma are now coming from there. Just 10 years ago, that figure was around 5 percent.
But the Chinese system has weaknesses. Recent investigations uncovered two deaths in experimental gene-therapy studies, which went undisclosed for months or longer. While such events are not the norm, they do expose serious failures, particularly because in one case the researchers appeared to have ignored serious safety red flags from the tests conducted in animals. But duplicative reviews, excessive manufacturing requirements and administrative delays are not the right safeguards either. The lesson for the United States is not to eliminate all safeguards indiscriminately, but to draw the line between genuine protections and procedural obstacles.
We know this can be done better, because other regulatory environments have proved it. Dr. Alison Schram, an academic oncologist at Memorial Sloan Kettering Cancer Center, told me that the biotech companies she collaborates with on clinical trials are increasingly choosing to test their drugs in hospitals in other countries, especially Australia. This hurts not only American patients, who miss out on experimental treatments, but the whole American scientific enterprise, by breaking the feedback loop between the lab and the clinic. “America is still leading in terms of basic science,” Dr. Schram said. “But there must be a dialogue between what is discovered in the lab and what is tested in patients.”
Source: https://investorshangout.com/post/view?id=6843316