Daily Tech Roundup: China Gains on U.S. With Surge in New Drug Approvals

Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

China closes in on U.S. with surge in new drug approvals

Despite the global pharmaceutical industry experiencing big fluctuations in funding, China has made great strides in launching new drugs over the past five years, narrowing the gap with the U.S., a new industry report showed. Between 2019 and 2023, China ranked second in the number of new medicines with 192 approvals, closing in on the U.S., which had 267, according to the Global Trends in R&D report by life sciences researcher the IQVIA Institute for Human Data Science.