|
Multinational pharmaceutical companies have turned to the Chinese market, and China has gradually moved closer to the global new drug market center
In recent years, China's pharmaceutical market has continued to grow rapidly, and has become the world's second largest pharmaceutical market after the United States。In addition, since China officially joined ICH in June 2017, CFDA has greatly shortened the time for the import of domestic new drugs by accepting overseas clinical data and setting up a list of clinically urgent overseas new drugs。
Thanks to China's accelerated access to innovative drugs, multinational pharmaceutical companies have achieved strong growth in the Chinese market。According to the third quarter report of 2019 announced by multinational pharmaceutical companies, driven by Keytruda and nine-valent HPV vaccine, the Q3 performance of Mercer East China soared by 90%;Roche and Astrazeneca's China results rose 53 per cent and 37 per cent respectively....The good growth momentum has further enhanced the confidence of multinational pharmaceutical companies in the Chinese market, and more and more multinational pharmaceutical companies have even positioned the Chinese market as a "key pillar of future growth".。China is gradually moving closer to the center of the global new drug market。
Chart 1: The performance of multinational pharmaceutical companies in China (or including China) in 2018
Source: Multinational pharmaceutical company earnings Report, Zhongkang Industrial Capital Research Center
However, due to the impact of domestic policy measures such as consistency evaluation, medical insurance control costs, "4+7" volume procurement, and pharmaceutical catalog negotiations, some high-priced original research drugs of multinational pharmaceutical companies are difficult to enter the key market of hospital channels, coupled with rapid and large proportion of generic substitution, the market share of original research drugs continues to shrink。
In this context, multinational drug companies have had to adjust their strategy in China。Especially this year, in order to stabilize and even further accelerate their layout in China, Novartis, Pfizer, Sanofi, GSK, BMS and other multinational pharmaceutical companies frequently move。
Chart: 2: The trend of some multinational pharmaceutical companies in China in 2019
Source: Public information, Zhongkang Industrial Capital Research Center
As can be seen from the above table, in 2019, multinational pharmaceutical companies mainly made these adjustments in China:
1. Layout of innovative drug research and development
On the one hand，Multinational pharmaceutical companies establish global new drug research and development centers in China，Or adjust the operation strategy of the existing R & D center in China，For example, Roche and Bayer have new research and development centers，Novartis has refocused its operations in Shanghai to focus on expanding the size and scope of early-stage clinical development and late-stage clinical trials。
On the other hand, multinational pharmaceutical companies expand their product lines through cooperation with local pharmaceutical companies, and rely on local forces to speed up the approval and listing of new drugs。At this year's CIIE, Astrazeneca established cooperative relations with a number of local innovative pharmaceutical companies such as Deqi Pharmaceutical and Shanghai Heyu Biomedicine on a number of small molecule drugs。It is worth noting that Astrazeneca and these Chinese local innovative drug companies are not a simple license-to-out innovative drug pipeline model, but to form a cooperative relationship to jointly promote the research and development of these small molecule innovative drugs in China and even the world。This way of cooperation is not only the joint research and development of innovative drugs, but also to share the risk and cost of research and development, and to share the commercial profits after listing, of course, multinational pharmaceutical companies and local companies may be derived from a richer form of cooperation in the future。
Through the establishment of research and development centers in China, cooperation with local pharmaceutical companies and other means, multinational pharmaceutical companies in China's new drug market time will be further shortened, and even with the global new drug market。At present, many multinational pharmaceutical companies have revealed their new drug listing plans in China, in the next 5-10 years, it is expected that more than 5 multinational pharmaceutical companies will submit 10-60 new drug applications in China。
Figure 3: The future new drug launch plans of multinational pharmaceutical companies in China
Source: Public information, Zhongkang Industrial Capital Research Center
2. Personnel adjustment
Looking back at 2019, a number of multinational pharmaceutical companies have adjusted their leaders in the Chinese market, including BMS, Sanofi, GSK, Novartis and other multinational pharmaceutical companies。The personnel adjustment of the senior management of these companies in China can be said to be a reaction of multinational pharmaceutical companies after re-examining the survival law of the Chinese market。
For example, the "marriage" between Pfizer and Mylan can be said to be one of the hottest events in the pharmaceutical industry this year, and the cooperation between the two is actually a huddle under the policy。This incident also brought a series of personnel changes, in order to adapt to the changes in the Chinese market environment, Pfizer China general manager Wu Feng resigned, and then five business general managers resigned。Last month, Wu Kun, another veteran of Pfizer China, also said goodbye to his 24-year career at Pfizer。
Figure 4: Changes of senior executives of some multinational pharmaceutical companies in China in 2019
Source: Public information, Zhongkang Industrial Capital Research Center
3. Divest non-core businesses
Affected by the continuous promotion of the "4+7" volume procurement policy, multinational pharmaceutical companies in order to reduce the impact of original research drugs, do not let some products affect the performance, usually take a "slimming" way, peel off non-core businesses, so that they are more focused on the core business。This year, for example, Novartis plans to spend 7.900 million yuan transfer of 100% equity in Suzhou Novartis Pharmaceutical Technology Co., Ltd. to Jiuzhou Pharmaceutical after stripping off technology and drug development assets, GSK sold its Suzhou factory and hepatitis B drug Heptin to Fosun Pharmaceutical, etc。
In fact, multinational pharmaceutical companies operating in China have never stopped the exploration of localized research and development models, especially in the current period of upgrading and restructuring of China's pharmaceutical industry, strategic adjustment of multinational pharmaceutical companies has become the norm。Multinational pharmaceutical companies only change with the trend, in order to better survive in the Chinese market, of course, the need to "change" is not only the research and development model, but also marketing and market entry methods。
In addition, the industry generally believes that innovative products will be the driving force for the future performance growth of multinational pharmaceutical companies, and with the continuous acceleration of drug approval in China, multinational pharmaceutical companies and local pharmaceutical companies are inevitable to carry out fierce competition。In the end, who can break out of this battle depends on its existing product layout, sales ability and so on。In recent years, the scale of China's pharmaceutical market has continued to grow rapidly, and has become the world's second largest pharmaceutical market after the United States。In addition, since China officially joined ICH in June 2017, CFDA has greatly shortened the time for the import of domestic new drugs by accepting overseas clinical data and setting up a list of clinically urgent overseas new drugs。 | 
.png)
.png)
.png)
.png)
