Morgan Stanley: It is expected that by 2040, Chinese drugs will account for 35% of the drugs approved by the US FDA.

Recently, Morgan Stanley released a research report predicting that by 2040, the proportion of drugs originating from China approved by the US Food and Drug Administration will increase from the current 5% to 35%, and will generate approximately $220 billion in revenue in markets outside of China. It is expected that due to China's speed and cost advantages in drug research and development, global research and development returns will increase by 48% by 2040. Morgan Stanley also stated that the global pharmaceutical industry is facing an imminent challenge: by 2035, revenue losses due to patent expiration are estimated to reach $115 billion.