Pfizer executive says China now leads Europe in drug innovation

Investing.com -- China has surpassed Europe in pharmaceutical innovation and drug development, a senior Pfizer executive said on Tuesday.

Pfizer Chief International Commercial Officer Alexandre de Germay made the comments at an event hosted by the European Federation of Pharmaceutical Industries and Associations. He said China has become a major source of new medicines and clinical research, changing the global pharmaceutical industry landscape.

"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 clinical development could be conducted three times faster in China and at roughly half the cost compared with Europe.

He pointed to data showing 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 remarks come as drugmakers and European policymakers discuss how to maintain Europe's position in pharmaceutical research and development and manufacturing amid growing competition from 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. 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.

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