By Andrew Silver
SHANGHAI, May 26 (Reuters) - China's booming pharmaceutical industry is not being impacted by Beijing's tightening scrutiny over deals involving sensitive technologies, the CEO of JW Therapeutics said Tuesday.
Global drugmakers are stepping up their search for China‑developed experimental medicines as they cut costs ahead of patent expirations, with industry analysts predicting biotech licensing deals would surge to a fresh record this year.
But last month, China ordered U.S. tech giant
Meta to unwind its $2 billion-plus acquisition of AI startup Manus, as Beijing tightens scrutiny of U.S. investment in domestic firms developing frontier technologies, sending a chill across wider industries.
"For us, everything is business as usual. Our cross-border collaborations, especially in CGT (cell and gene therapies), are particularly dependent on international cooperation. So far, I have not seen any impact," JW Chief Executive Leo Tian told Reuters.
JW, whose largest shareholder is U.S. drugmaker Bristol Myers Squibb through that firm's wholly owned subsidiary Juno Therapeutics, specializes in cell immunotherapy products. Tian added that for assets in its pipeline JW was "actively seeking cooperations" with companies outside China.
Reuters previously reported that China's blocking of Meta's acquisition of Manus would heighten the risk for global investors looking to invest in advanced tech firms with ties to the country.
(Reporting by Andrew Silver; Editing by Gus Trompiz)
