The USA is a well deserved leader in the biopharmaceutical industry. The three revolutionary waves of modern biotechnology all originated in the United States. The fire of technology has ignited the enthusiasm of the capital market, and Wall Street is welcoming / experiencing the third investment boom in biotechnology. After the waves cleared the sand, a number of excellent biopharmaceutical enterprises such as Amgen and Genentech grew up.

The growth of the biopharmaceutical industry in the United States cannot be separated from the external environment. Institutional factors and financing channels are all the boosters for the development of the industry. Compared with Europe and Japan, China is more similar to the United States in industry development mode.

China's basic R & D strength ranks among the top ten in the world, but its industrialization is not ideal. In addition to the technical level, the industrial development mode and financing channel restrictions are the main constraints. Fortunately, this situation is changing.

The process of "threshold effect" and "introduction, digestion and absorption" of technological innovation determines that the R & D of China's biopharmaceutical industry is still dominated by imitation. Unlike the imitation of small molecule drugs, there are also high technical barriers to the imitation of biotechnology drugs, such as the large-scale industrialization of generic drugs.