Biotech in the Middle Kingdom Highlights Rules of Engagement in China
The recent 2012 BIO International Convention featured a full day of programming devoted to doing business in China, entitled - China Day: Biotechnology in the Middle Kingdom: A New Plan, A Renewed Focus, A One Billion Person Promise. China Day focused on questions about the changing landscape for innovation, healthcare reform, global regulatory trends, and one of the most pressing questions for many attendees: What is the right way to partner in China?
For companies looking to partner in China, they must first realize the unique needs of this market – an aging population, continuing urbanization and the increasing need for affordability. In addition to public and private investments, this fast growing market is driven by strong government directionsand companies should take this into consideration as they engage in potential collaborations and deal-making activities.
China has included biotechnology as one of seven strategic priorities for scientific and technological development in its 12th Five-year Plan. China is set to become the second-largest pharmaceutical market in the world by 2015, which obviously represents a significant opportunity for biotechnology companies seeking to do business in China.
More than 20 speakers with decades of experience conducting business in the Chinese life sciences sector, including George Baeder, Partner at Monitor Group Asia, and Li Chen, President and CEO of Hua Medicine shared best practices for securing and achieving successful collaborations and partnerships with Chinese companies. One such example cited was the 2011 joint venture between Merck & Co and China’s Simcere Pharmaceutical Group which focuses on serving China’s rapidly expanding health care needs by providing significantly improved access to quality medicines in major therapeutic areas.
In addition, speakers highlighted attributes of China’s biopharmaceutical industry that contribute to its growth: government financial support that allows for investment in R&D; strong partnerships between universities, Chinese biotechs, and multinational corporations; and top training to build both size and skills of the scientific workforce.
China is expected to be a major value driver of the global pharma market, accounting for a quarter of global value growth by 2015. With this in mind, BIO has underscored China as a priority market for biotechnology and will host the 2nd Annual BIO Convention in China on October 24 - 25, 2012 in Shanghai.
The BIO Convention in China will bring together executives from biotechnology, pharmaceutical companies and investment firms from North America, Europe and Asia to meet and explore business opportunities with China’s emerging biotech sector.
Sessions will highlight the latest issues and trends related to doing business in China. Topics include: Globalization of Chinese Companies; Achieving Global Success via Innovation in Generics and Biosimilars; Comparative Legal Systems – U.S., Europe & China; Latest Drug Research & Development Trends in China; Biotech Strategy 101: Big Biotech’s China Business Plan; Adapting to China’s Changing Health Care System – Reimbursement, Health Care Reform & Affordability; Globalizing Traditional Chinese Medicines; Trends in Cancer Research and Oncology Treatment Development in China; Regulatory Review Process of New Medicines in China and Leadership Models in Translating Innovative Sciences.
BIO China also will feature partnering opportunities through BIO One-on-One PartneringTM, an interactive environment to intelligently search, contact and schedule private meetings with potential partners and investors.
To learn more about the BIO Convention in China, please visit here.