As a result of the financial turmoil, most of the investment capital has become more cautious, and Sequoia Capital, the prestigious US company in the field of venture capital, has recently issued a cost reduction order for its investment projects. However, there are always people who can see opportunities in the crisis and find ways to make money in the crisis.
According to a recent survey conducted by the world-renowned Ernst & Young auditors, multinational pharmaceutical companies are accelerating their expansion operations in China. Major companies are launching a series of business models to meet the challenges of the Chinese market. In addition, good expectations for the reform of the Chinese medical system have also induced various investment institutions to turn their attention to China. Under the cold wave of the financial turmoil, there seems to be a slew of hot money flowing into this area.
Multinational pharmaceutical companies accelerate their deployment in China
A few days ago, at the “Millennium 2008 China High-growth Companies CEO Listing Forum,†Li Yongguang, partner of the pharmaceutical industry industry in Anyong District, briefed the reporter on an upcoming research report.
A survey conducted on 40 senior management staff of 15 leading pharmaceutical companies operating in China showed that due to the expansion of China’s health care plan and the increase in population affluence, people’s demand for drugs continues to increase. In the coming years, China will become one of the most important growth markets. Li Yongguang said: "The global pharmaceutical company's expansion of its operations in the Chinese market is just an indication that China's growing purchasing power and broader medical system have brought important development opportunities."
According to Li Yongguang, although most of the interviewed companies have accelerated the penetration of the Chinese market, they basically adopt three business models: one is to increase investment in R&D in China; the other is to expand sales and market operations in China. Third, through the establishment of partnerships with local companies, sales of products in China. "The fierce competition has enabled multinational pharmaceutical companies to quickly identify the right strategies to meet the major challenges facing China's business."
It is reported that the senior managers participating in the survey also pointed out several long-term challenges faced by the global pharmaceutical company's expansion in China: First, in the aspect of talent policy, how to hire and retain top talent is a common challenge faced by multinational drug companies. : As more and more companies choose to develop in China, the company’s demand for talent rapidly grows. They have increased their wages and strived to find and retain top talents, which has exacerbated the pressure on competition for human resources. Second, China is in a dynamic market environment. China's ever-changing, while the relevant departments continue to improve health care policy, so that multinational pharmaceutical companies must quickly adapt to changes in the market and adopt a series of innovative business models. For many traditional single-type pharmaceutical companies, this is undoubtedly a challenge; Third, there may be some uncertainty in the drug approval process, and the progress rate is relatively time-consuming; Fourth, the quality and safety guarantees are increasingly strict, because Less multinational pharmaceutical companies increasingly rely on manufacturing in China, and they need to ensure that their partners in China have good production quality, environmental health, and safe production records.
"China is considered to be one of the fastest growing pharmaceutical markets. The complexity of some business opportunities in China has forced multinational companies to pursue more flexible and innovative business models. In this environment, execution has become critical." Li Yongguang revealed to reporters that preliminary investigation results of multinational pharmaceutical companies in China will be further elaborated in the recent Ernst & Young global pharmaceutical report.
Medical reform induces investment opportunities?
Carolyn Buck-Luce, head of the global pharmaceutical industry at Ernst & Young, told reporters that in the coming years, China will become one of the most important growth markets. Although the impact of reforming the medical industry into the industry is not yet clear, many investors have been gearing up to prepare for a “staking their claimsâ€.
At this forum, some international investment bankers agreed that "the pharmaceutical industry will become a new investment hot spot in the future market." At the same time, more overseas investors are looking at the depth and breadth of the coverage of TCM reform policies, paying close attention to the trend of the prescription drug retail market, and have aroused a keen interest in investing in the medical service industry.
Li Shuxun, co-chairman of New Asia Partners Ltd., told reporters that their concern for specialty drug companies and sub-disciplines in prescription drug manufacturing companies is far greater than that of generic drug manufacturers. In the future, the focus of its investment in the pharmaceutical industry will also be sought from this field. Zhang Yiping, investment manager of Jinshi Investment Co., Ltd., also stated that pharmaceutical companies with a certain scale and a certain share in the prescription drug market are the focus of their investment choices.
According to Glen Giovannetti, head of global biotechnology at Ernst & Young, despite the fact that the major exchanges have not listed IPOs for biotech companies for 12 months, it does not mean that there has been no quiet movement in the open market. Because strategic alliances between biotechnology companies are intensifying, the financing momentum is still rapid. Statistics show that in 2007 M&A activity in this field hit a record high. Glen Giovannetti believes that this trend will continue in the second half of this year. With the intensification of the financial turmoil, multinational pharmaceutical companies have to seek lower-cost manufacturing strategies. This may cause CROs in other regions, including China, to continue to thrive, and related Chinese CRO research and development levels may further escalate.
However, according to the reporter's understanding, although various investment institutions are clustered in the Chinese market and their enthusiasm is high, many companies that have realized their own value may not easily form a financial relationship with them. Some pharmaceutical companies may even suspend their listing plans. Li Yongguang admits that due to the financial turmoil, the IPO audit work of the four major blocks of the Ernst & Young Global Pharmaceutical Center has temporarily stopped.
Ren Jinsheng, chairman and chief executive of the Sennheiser Pharmaceutical Group, said that under the influence of the financial turmoil, IPO plan publicity for companies including pharmaceutical companies may consider waiting to be implemented. With the continuous improvement of Chinese companies’ understanding of their own values, they will become more rational in the face of investors. Ren Jinsheng admits that when Lenovo's Hong Yi entered the initials, he did not understand the true value of the company. After various investors “trainedâ€, “If it is now, I will consider a high price!â€
According to a recent survey conducted by the world-renowned Ernst & Young auditors, multinational pharmaceutical companies are accelerating their expansion operations in China. Major companies are launching a series of business models to meet the challenges of the Chinese market. In addition, good expectations for the reform of the Chinese medical system have also induced various investment institutions to turn their attention to China. Under the cold wave of the financial turmoil, there seems to be a slew of hot money flowing into this area.
Multinational pharmaceutical companies accelerate their deployment in China
A few days ago, at the “Millennium 2008 China High-growth Companies CEO Listing Forum,†Li Yongguang, partner of the pharmaceutical industry industry in Anyong District, briefed the reporter on an upcoming research report.
A survey conducted on 40 senior management staff of 15 leading pharmaceutical companies operating in China showed that due to the expansion of China’s health care plan and the increase in population affluence, people’s demand for drugs continues to increase. In the coming years, China will become one of the most important growth markets. Li Yongguang said: "The global pharmaceutical company's expansion of its operations in the Chinese market is just an indication that China's growing purchasing power and broader medical system have brought important development opportunities."
According to Li Yongguang, although most of the interviewed companies have accelerated the penetration of the Chinese market, they basically adopt three business models: one is to increase investment in R&D in China; the other is to expand sales and market operations in China. Third, through the establishment of partnerships with local companies, sales of products in China. "The fierce competition has enabled multinational pharmaceutical companies to quickly identify the right strategies to meet the major challenges facing China's business."
It is reported that the senior managers participating in the survey also pointed out several long-term challenges faced by the global pharmaceutical company's expansion in China: First, in the aspect of talent policy, how to hire and retain top talent is a common challenge faced by multinational drug companies. : As more and more companies choose to develop in China, the company’s demand for talent rapidly grows. They have increased their wages and strived to find and retain top talents, which has exacerbated the pressure on competition for human resources. Second, China is in a dynamic market environment. China's ever-changing, while the relevant departments continue to improve health care policy, so that multinational pharmaceutical companies must quickly adapt to changes in the market and adopt a series of innovative business models. For many traditional single-type pharmaceutical companies, this is undoubtedly a challenge; Third, there may be some uncertainty in the drug approval process, and the progress rate is relatively time-consuming; Fourth, the quality and safety guarantees are increasingly strict, because Less multinational pharmaceutical companies increasingly rely on manufacturing in China, and they need to ensure that their partners in China have good production quality, environmental health, and safe production records.
"China is considered to be one of the fastest growing pharmaceutical markets. The complexity of some business opportunities in China has forced multinational companies to pursue more flexible and innovative business models. In this environment, execution has become critical." Li Yongguang revealed to reporters that preliminary investigation results of multinational pharmaceutical companies in China will be further elaborated in the recent Ernst & Young global pharmaceutical report.
Medical reform induces investment opportunities?
Carolyn Buck-Luce, head of the global pharmaceutical industry at Ernst & Young, told reporters that in the coming years, China will become one of the most important growth markets. Although the impact of reforming the medical industry into the industry is not yet clear, many investors have been gearing up to prepare for a “staking their claimsâ€.
At this forum, some international investment bankers agreed that "the pharmaceutical industry will become a new investment hot spot in the future market." At the same time, more overseas investors are looking at the depth and breadth of the coverage of TCM reform policies, paying close attention to the trend of the prescription drug retail market, and have aroused a keen interest in investing in the medical service industry.
Li Shuxun, co-chairman of New Asia Partners Ltd., told reporters that their concern for specialty drug companies and sub-disciplines in prescription drug manufacturing companies is far greater than that of generic drug manufacturers. In the future, the focus of its investment in the pharmaceutical industry will also be sought from this field. Zhang Yiping, investment manager of Jinshi Investment Co., Ltd., also stated that pharmaceutical companies with a certain scale and a certain share in the prescription drug market are the focus of their investment choices.
According to Glen Giovannetti, head of global biotechnology at Ernst & Young, despite the fact that the major exchanges have not listed IPOs for biotech companies for 12 months, it does not mean that there has been no quiet movement in the open market. Because strategic alliances between biotechnology companies are intensifying, the financing momentum is still rapid. Statistics show that in 2007 M&A activity in this field hit a record high. Glen Giovannetti believes that this trend will continue in the second half of this year. With the intensification of the financial turmoil, multinational pharmaceutical companies have to seek lower-cost manufacturing strategies. This may cause CROs in other regions, including China, to continue to thrive, and related Chinese CRO research and development levels may further escalate.
However, according to the reporter's understanding, although various investment institutions are clustered in the Chinese market and their enthusiasm is high, many companies that have realized their own value may not easily form a financial relationship with them. Some pharmaceutical companies may even suspend their listing plans. Li Yongguang admits that due to the financial turmoil, the IPO audit work of the four major blocks of the Ernst & Young Global Pharmaceutical Center has temporarily stopped.
Ren Jinsheng, chairman and chief executive of the Sennheiser Pharmaceutical Group, said that under the influence of the financial turmoil, IPO plan publicity for companies including pharmaceutical companies may consider waiting to be implemented. With the continuous improvement of Chinese companies’ understanding of their own values, they will become more rational in the face of investors. Ren Jinsheng admits that when Lenovo's Hong Yi entered the initials, he did not understand the true value of the company. After various investors “trainedâ€, “If it is now, I will consider a high price!â€
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