Opinion: STAT+: Pharma and biotech leaders are destroying their own industry

The biotech and pharma industries are being destroyed by their own leaders as China gains ground in innovation and drug development, with global pharmaceutical companies spending over $137 billion on licensed drug assets from China in 2025. The US is heavily dependent on China for generic medications, with an estimated 60-90% of active ingredients originating from China. This rise to dominance has occurred in just three years.