Towards mission-driven investment in new antimicrobials? What role for Chinese strategic industrial financing vehicles in responding to the challenge of antimicrobial resistance?

Antimicrobial resistance (AMR) is causing high global mortality rates, and there is a need for new antimicrobials. China, with a rapidly emerging pharmaceuticals and biotech sector, has used government guidance funds (GGFs) as a push and pull mechanism to support R&D. GGFs have a substantial role in Pharmaceuticals & Biotch but have little role in developing new antimicrobials. However, they are responsive to policy demands and can be used strategically by the government. To effectively play a larger role, reforms to governance, increased technical and managerial capacity, and supporting incentives are needed. GGFs deserve further research as China’s P&B sector becomes more globally important.