Once known for producing generic drugs and performing contract research for Western pharmaceutical companies, China’s biopharmaceutical industry today is marked by investments in research and development by homegrown companies that are driving the sector to new levels of innovation and growth.

In this podcast, Nick Leung, Franck LeDeu and Fangning Zhang discuss whether China’s biopharma sector could become a role model for reform and innovation for the rest of the economy. Franck and Fangning are Partners with McKinsey’s Healthcare Practice in China. Nick is Managing Partner of McKinsey’s Greater China Practice.