Innovation Inflection Point: China’s Rise and U.S. Headwinds in Biopharma

Описание: Biopharma is entering a new phase: dealmaking is moving earlier, the IPO window stays selective, and China is turning into a serious source of pipeline assets and licensing momentum.

Join Alasdair Milton (Partner/Principal, KPMG Healthcare & Life Sciences) for a live, operator-level conversation on what is changing, and what to do about it.

Topics include:
• Why Big Pharma is hunting earlier-stage assets and getting more creative on deal structure
• The China shift: pipeline growth, licensing acceleration, and what it means for Western buyers and builders
• The U.S. headwinds leaders actually feel: NIH uncertainty, IRA dynamics, FDA and capital market friction
• What founders can do now to stay fundable: capital story, valuation readiness, and credible pathways to strategic outcomes
• Where AI is real versus hype, including a China example that “blew his mind”

For founders, investors, and biopharma leaders who want a grounded read on the next 12 to 24 months.

Table of Content:

(00:00) The "5-Minute Summary": What busy people need to know immediately
(02:18) Chaos vs. Progress: Why science marches on despite market turmoil
(06:19) The Non-Linear Path: Lessons from the death and rebirth of Gene Therapy
(10:12) From a Tiny Scottish Island to the Center of US Biotech
(14:18) The "Jensen Huang" Work Ethic: Is hustling actually required for success?
(17:51) The Hardest Leap: How to transition from Lab Bench to Boardroom
(21:35) The $15k Stipend Reality: Surviving the PhD years with side hustles
(25:43) The Boston Shock: Losing your job 3 weeks after moving continents
(30:48) "Scottish Grit": Building the mental toughness to survive failure
(36:52) Decision Frameworks: How to make life-altering choices when you are terrified
(45:42) Decoding KPMG: What a "Big 4" actually does inside a Biotech
(54:12) The "Translator" Skill: How to explain Gene Therapy to a non-scientific CFO
(01:08:44) Visualizing the Deal Flow: A data-driven look at Pharma M&A (2019-2025)
(01:10:25) The 2025 Pivot: Why Big Pharma is buying "Platforms" instead of single assets
(01:13:26) The "Biotech Winter" Explained: Why Series A & B funding really dried up
(01:16:00) The XBI Index: Are we seeing a real recovery or a false dawn?
(01:20:46) Follow the Money: Why Oncology, Neuro, and "Metabolics" are winning the cash
(01:24:18) The Rise of Corporate VC: The steady hand replacing flighty tourists
(01:26:54) Private Equity’s New Playbook: Why they are buying "Services" not "Risk"
(01:29:03) Deal Killers: The specific red flags that destroy Pharma acquisitions
(01:35:46) The IRA Effect: How government policy is crushing small molecule innovation
(01:41:08) The China Shock: Going from 5% to 33% of the global drug pipeline
(01:46:20) The "One Party" Advantage: How China accelerates regulatory speed
(01:51:40) Scale as a Weapon: Why China wins on Precision Medicine data
(01:53:44) Case Study: The first AI + Organoid drug (The speed will blow your mind)
(01:57:35) India’s Dilemma: Can they move beyond being "The World’s Pharmacy"?
(02:00:12) The Forgotten Continent: The untapped potential of Africa
(02:02:45) Defining Precision Medicine: It is not just a test, it is a data strategy
(02:04:47) Beyond Cancer: The revolution of the Alzheimer’s Blood Test
(02:09:18) The Data Problem: Why the US Healthcare system fails at precision
(02:12:21) AI in Action: Predicting breast cancer before the tumor even appears
(02:16:53) The "Leakage" Chart: Why only 1/3 of patients actually get the right drug
(02:20:54) The "Externalization" Strategy: How to save great science from sitting on the shelf
(02:22:00) The Ultimate Vision: How we finally kill the "Sick Care" business model
(02:29:52) Advice to Gen Z: Don't just be a scientist, be a bridge