How we2 Jan 2019 14:36
Might Trump a Chinese deal:
'Although the US is now talking about cutting tariffs with China, the behaviour of president Trump is anything but predictable and the situation can change overnight.
The uncertainty is driving Chinese investors’ interest towards Europe as a place to invest in biotech, according to Nooman Haque, managing director of life sciences and healthcare at Silicon Valley Bank.
Figures released that emerged in the summer backed up Haque’s argument: they showed China is investing nine times more into Europe than it is into North America.
According to the report from multinational law firm Baker Mackenzie, newly-announced Chinese M&A activity into Europe in all sectors was $20 billion compared to $2.5 billion in North America in the first half of 2018.
The report showed foreign direct investment from China swung dramatically toward Europe – while US revenues fell 92% from $24 billion in the same period last year.
Biotech and health were among the main areas interesting Chinese investors in Europe, as well as the automotive industry.
Amid the growing trade tensions between the US and China, Chinese firms are also divesting in North America, according to the report, with $9.6 billion being divested in the first half of the year.
Haque told pharmaphorum in an interview: “The US’s loss is going to be Europe’s gain. It’s more because of the political climate.”
According to Haque there is a “growing recognition” amongst Chinese investors of the value in the European pharma and biotech market, in early and late stage development.'
And the UK in particular is of interest because of the government’s decision to back the life sciences as part of its industrial strategy.
https://pharmaphorum.com/r-d/views-analysis-r-d/us-loses-eu-wins-as-chinese-biotech-investment-shifts-focus/
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