China outpacing Europe in drug innovation and development, Pfizer executive says

By Maggie Fick

BRUSSELS, June 23 (Reuters) - China has pulled ahead of Europe in pharmaceutical innovation and drug development, a senior Pfizer executive said on Tuesday.

China has become a major source of new medicines and clinical research, reshaping the global pharmaceutical-industry landscape, Pfizer Chief International Commercial Officer Alexandre de Germay said at an event hosted by industry lobby group the European Federation of Pharmaceutical Industries and Associations (EFPIA).

"Today, 40% of all clinical studies in oncology in the world are in China," de Germay said. "The volume of innovation that is coming out of biotech in China is just amazing." 

De Germay said Pfizer now believes that clinical development could be conducted three times faster in China and at roughly half the cost compared with Europe.

He also pointed to data showing that China was the source of more innovative medicines than Europe.

"In 2024, of 81 innovative medicines launched, 28 came from China and only 18 came from Europe," he said.

The comments come as drugmakers and European policymakers debate how to maintain Europe's competitiveness in pharmaceutical research and development and manufacturing amid growing competition from both China and the U.S. 

"We have to compete with the U.S., but we also have to compete with China," de Germay said. "We need to realize that the threat of China is reality."

The U.S. has also taken actions to speed up drug research to counter the Chinese biotech industry. The U.S. Food and Drug Administration launched an initiative on Monday called Operation TrialBlazer and updated its guidance for ​early-stage studies, which could save companies six to 12 months ‌of ⁠development time.

Pfizer Chief Oncology Officer Jeffrey Legos said in an interview on Monday that, at a minimum, 20% of patients in the company's late-stage studies are enrolled in the U.S.

(Reporting by Maggie Fick, Additional reporting by Michael Erman in New Jersey)