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U.S. CEOs Warn: China Overtakes in Drug Development

10/16/2025

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Summary

Story summary

Pfizer CEO Albert Bourla and Wells Fargo CEO Charlie Scharf warned at the Invest in America Forum on October 15, 2025, that the U.S. risks losing its competitive edge to China.
Bourla noted China's advancements in biotechnology, stating it now leads in global drug development, and urged collaboration between U.S. and Chinese pharmaceutical industries.
He discussed a recent drug pricing deal with the Trump administration aimed at stabilizing the market and predicted that artificial intelligence will transform drug discovery.

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Story summary

Pfizer CEO Albert Bourla and Wells Fargo CEO Charlie Scharf warned at the Invest in America Forum on October 15, 2025, that the U.S. risks losing its competitive edge to China.
Bourla noted China's advancements in biotechnology, stating it now leads in global drug development, and urged collaboration between U.S. and Chinese pharmaceutical industries.
He discussed a recent drug pricing deal with the Trump administration aimed at stabilizing the market and predicted that artificial intelligence will transform drug discovery.