On the surface Kailera Therapeutics is another US biotech start-up, with a Nasdaq listing and headquarters in Waltham, Massachusetts, a leafy Boston suburb and industry hub.
But it got its start a world away in China, where its portfolio of weight-loss drugs was developed by Shanghai-based Hengrui Pharma, the country’s largest drugmaker by market value.
Kailera’s origin story highlights an emerging trend in the global pharmaceutical industry: Chinese drugs are seeding US biotech start-ups.
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