China’s pharmaceutical market has grown substantially in recent years, from a valuation of $123.7bn in 2016, to an expected colossal $573.5bn by 2022. With 20% of the world’s population, China has always been desirable from an access perspective, however the recent activities of Western Pharma suggest a change in their decades-long strategies. Heavy investment, both domestic and international, has turned the tide in China. Companies no longer view China simply as a factory for the inexpensive manufacture of drugs developed in the Western world, they are putting down roots. An influx of international talent, the establishment of impressive biomedical research parks and the optimisation of key regulatory processes, has positioned China as a global leader in innovation, and Big Pharma have been compelled to invest at grass-roots level.
- Competitor benchmarking of the strategies of Western Pharma companies for capturing innovation in China, looking at partnerships and infrastructure (investments, incubators, research centres).
- Thorough understanding of the nuances surrounding regulatory and reimbursement decision-making in China, and the resultant opportunities and barriers for Pharma.
- A breadth of experience and deep understanding of the manufacturing and commercialization strategies supporting the success of disruptive CGT technologies developed in China, from rapid manufacturing and point-of-care (POC) production to multi-national partnering.