China surpassing Europe in Drug Innovation and Development, Pfizer Inc. (PFE) Executive says

Pfizer Inc. (NYSE:PFE) is among the Best Healthcare Stocks.

On June 23, Reuters reported that Pfizer Inc. (NYSE:PFE) ‘s Chief International Commercial Officer, Alexandre de Germay, said China has moved ahead of Europe in pharmaceutical innovation and drug development.

De Germay commented that China now has “40% of all clinical studies in oncology” globally. He pointed out that the biopharma firm believes clinical development can move three times faster in China and at roughly half the cost compared with Europe.

De Germay said that back in 2024, China produced 28 innovative medicines, while Europe produced 18. “We have to compete with the U.S., but we also have to compete with China,” he said, and “the threat of China is reality.”

Reuters also reported that the US Food and Drug Administration launched Operation TrialBlazer to speed up early-stage drug research. Pfizer Chief Oncology Officer Jeffrey Legos disclosed that at least 20% of patients in Pfizer Inc. (NYSE:PFE)’s late-stage studies are enrolled in the United States.

Pfizer Inc. (NYSE:PFE) is a research-based global biopharmaceutical company that discovers, develops, manufactures, markets, sells, and distributes biopharmaceutical products worldwide.

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