A scientist carefully conducts her experiment in a research laboratory.
getty
China’s biotech sector is experiencing rapid growth. It now leads the world in clinical trials and new drug licensing, surpassing the U.S. The U.S. must take decisive action to maintain its competitive edge in pharmaceutical innovation.
To protect the economy and national security, the U.S. needs to prioritize biotechnology: enhancing domestic capacity, aligning incentives, and fostering an environment conducive to innovation on American soil.
Pharmaceutical innovation has long been a cornerstone of America’s global competitiveness and public health. However, recent negative narratives surrounding the industry, focusing on high drug prices and insurance costs, have overshadowed its contributions.
While addressing the issue of high costs is necessary, it is essential to recognize the critical role of American biotech in the country’s economy and security. Dependency on foreign markets for manufacturing and drug discovery poses economic and strategic risks.
China’s ascendancy in biotechnology is a result of deliberate government policies, substantial investments in research, streamlined clinical trial processes, and attractive incentives for both domestic and foreign firms.
The U.S. faces challenges such as regulatory hurdles, reimbursement inconsistencies, and potential drug price controls that deter long-term research and development investments. This poses a threat to maintaining leadership in the biotech sector.
Strategic investment, regulatory modernization, and redefining the value framework in drug development are crucial for making biotechnology a national priority in the U.S.
The U.S. must ensure resilience and independence in biotech innovation to avoid losing control over critical therapies, clinical data, and manufacturing standards.
Recognizing biotechnology as a strategic asset is essential for the U.S. to maintain its health, security, and competitiveness in the global landscape.
Leaders must act with foresight and determination to safeguard the future of biotechnology as a key pillar of national strength and innovation.
