Logging in to comment that this is absolutely the case, also for EU biotech. The scale of innovation and reliance on said innovations by the west isn’t being overstated on the video.

I discussed this with a former leading biotech insider that moved to China because of this. The big western firms have become rent extracting through purchasing IP of medicine developed in China. They don’t do much research any more, and once upon a time when they did do it, the research was profit centric.