China's pharmaceutical industry is trying to up its game by developing innovative new products rather than mass-producing cheap copycat drugs. According to Vikram Kapur, a partner with Bain & Company, its biopharma industry has already undergone significant change. "The sector historically used to focus more on generics and there were low-cost contract research organizations," he said. "Today you are seeing teams that focus on much more sophisticated research. They have a global view and a track record."