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A lab technician prepares to thawing blood bag before genetically modifying a patients immune cells. Photo: Gerard Julien/AFP/Getty Images

China's aggressive focus on prescription drugs includes developing its own version of CAR-T, one of the most ambitious therapies on the market, Bloomberg reports.

Why it matters: Chinese scientists are attempting to develop CAR-T therapies — which genetically engineer a patient's own immune cells to destroy cancer cells — much faster and with a much cheaper price tag than those in the U.S.

But there are concerns that the country is moving too fast and considering loosening oversight too much.

  • While American and European companies take two to three weeks to engineer each patient's CAR-T therapy, Chinese startup Gracell Biotechnology makes theirs overnight.
  • Gracell plans to price its treatment — which is still experimental — at around $71,000. The two CAR-Ts approved in the U.S. have price tags of $475,000 and $373,000.

What they're saying: "We all want these therapies to move fast and some are very good, but we need to be aware that some could be moving too fast for their expertise, even if they have very good intentions," Bruce Levine, a professor specializing in cancer gene therapy at the University of Pennsylvania, told Bloomberg.

The big picture: The Chinese market for drugs is enormous, particularly for cancer drugs.

  • China is home to the largest cancer population in the world, per Bloomberg.

Go deeper: China offers drug companies market access in exchange for lower prices

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: Supreme Court backs religious groups on New York COVID restrictions.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists — National standardized tests delayed until 2022.
  5. Cities: Los Angeles County issues stay-at-home order, limits gatherings.
  6. World: London police arrest dozens during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
8 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.

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