Industry Notes / Pharma / Chapter 20 of 20 · Table
Where China leads globally
World-class 1→10; still weak 0→1
| Dimension | Tier | Domain | One-line proof |
|---|---|---|---|
| One | Biologics CDMO / small-mol CRDMO | WuXi-class backlog and complex-molecule mix | |
| One | ADC supply / APIs | High share of global licenses; India still leans on China API | |
| One | CAR-T global commercial | Legend CARVYKTI ~$1.89 bn in 2025; product line profitable | |
| Two | Bispecifics / TCE / metabolic differentiation | Local rule-setters, not full dominance | |
| Four | Origin targets / global sales / generic export | Structural gaps; India owns formulation export |
Tier one: CDMO/CRDMO, ADC supply, APIs, Legend-style CAR-T commercialization. Tier four absent: original first-in-class, global commercial (ex BeOne), premium generic export. Split operating profit from one-off BD.
Source：调研正文第 12 章中国竞争力分层；药明生物 / 传奇 / 信达公开业绩
Research notes, not investment advice.