WHAT THE HELL IS HAPPENING IN CHINA?

Summary from the TLDR newsletter

China has several early-stage biotechs with over 10 development candidates. It is much easier to develop drugs in China. Chinese biotechs lacked access to later-stage development resources in the past, so they have always leaned toward a breadth-first strategy. This has resulted in an industry with heavy competition that will likely surpass its Western rivals within the next few years.