Large biopharma companies looking at China assets right now, says Goldman Sachs Salveen Richter

• China's biotech innovation is accelerating, currently focused on 'me-too/me-better' drugs and re-engineering known targets, with an expected shift towards more novel innovation.
• Western drugmakers are increasingly pursuing out-licensing deals and M&A with Chinese companies, viewing China as a source of assets due to upcoming patent expirations.
• AI and robotics are being widely adopted in China for early-stage drug discovery, molecule design, trial design, and manufacturing, particularly in oncology.
• Summit Therapeutics (SMMT) is highlighted as a potential key investment due to upcoming data in lung cancer that could validate China-to-Western data translation.

Goldman Sachs' Salveen Richter discusses China's accelerating biotech innovation, focusing on 'me-too' and 'me-better' drugs, with future potential for novel therapies. Western biopharma companies are increasingly engaging in cross-border licensing deals and M&A with Chinese firms, driven by upcoming patent cliffs. AI and robotics are being integrated into drug discovery and development in China.