Sector News

Biopharma in China: Insights into a market at a crossroads

June 27, 2019
Life sciences

China’s biopharma market continues to grow at a healthy pace. Market growth has remained in mid-single figures over recent years, with total value reaching some $130 billion1 in 2018, making China second only to the United States in world rankings. However, powerful trends are set to transform the industry over the next few years. On the one hand, the threat to mature brands has reached a tipping point driven by pressure from a combination of new policies; on the other hand, regulatory reform and broadening of market access provide a brighter outlook for innovative and patented products, although real uncertainties remain. Some observers say digital advances will have a major impact on the industry, while others believe true digital transformations are still years away. Critically, companies find it harder than ever to identify, recruit, and retain the talent they need to compete.

We seek to shed light on an inflection point in the development of China’s biopharma market. It draws both on our own observations and on a series of in-depth conversations with senior leaders of multinational pharma companies in China. Through our research, we identified five key insights into the industry’s prospects for the next few years. We hope they will encourage debate, broaden stakeholders’ thinking across the industry, and help companies plan wisely.

> View the full article on the McKinsey website

By Franck Le Deu, Serina Tang, and Gaobo Zhou

Source: McKinsey

comments closed

Related News

October 2, 2022

GSK names Julie Brown, a 25-year AstraZeneca veteran, its first woman CFO

Life sciences

Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.

October 2, 2022

Moderna creates new launch preparation role, poaches Novartis exec as manufacturing lead

Life sciences

Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.

October 2, 2022

Torrent Pharma to acquire Curatio for $245.16m

Life sciences

The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).