RE:Big Pharma will be seeking innovation to drive profits now From fiercebiotech: April 08, 2022 .. The America COMPETES Act of 2022 (the bill) " encourages the U.S., the EU and other European countries to work together on “joint strategies to diversify reliance on supply chains away from the People’s Republic of China,” and “especially” so in the medical and pharmaceutical fields.
Moreover, the U.S. and Europe ought to appraise their “overreliance on goods originating in the People’s Republic of China, including in the medical and pharmaceutical sectors, and develop joint strategies to diversify supply chains,” the text continues."
[While ' it's not clear just how these joint strategies and diversified supply chains would come to be nor whether the government would offer any incentives to companies to follow its advice' .. what is clear is that the acquisition of NA and European biotech development companies by NA and European Big Pharma companies would transfer innovation and control of drug development into the hands of these Big Pharma companies and by so doing would effectively accomplish what the America COMPETES Act of 2022 sets out to do.
Furthermore, any acquirer of ONCY would have direct access into China through ONCY's partner Adlai Nortye which is a huge advantage to any Big Pharma company looking to increase its share of the global market.
Alternatively, there are Chinese players who are looking to acquire NA biotech development companies like ONCY, to gain access to the NA and European drug markets and effectively give them an established drug development company already listed on the relevant NA and European exchanges.]
https://www.fiercepharma.com/pharma/senate-blesses-legislation-wrest-us-supply-chains-chinas-grasp-pharma-industry-front-and