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Competing in China’s Booming Biopharma Market
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Competing in China’s Booming Biopharma Market

John Wong, Chun Wu, Wen Xie and Vaidyanathan Srikant
Boston Consulting Group, 2020
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Editorial Rating

9

Qualities

  • Analytical
  • Applicable
  • Concrete Examples

Recommendation

It wasn’t so very long ago that global companies looked down their nose at Chinese companies for lacking a recognizable brand and internal innovation, but China has moved on from copying successful Western products. This is true in manufacturing, and it’s now true in the biopharma industry, as favorable government policy and cheap funding help Chinese companies emerge and expand. They may soon be encroaching on the global markets of established multinationals. So how might current biopharma companies collaborate with new Chinese companies? The Boston Consulting Group have some ideas.

Take-Aways

  • China is the second-largest market for biopharmaceuticals after the United States, and it’s only going to grow.
  • The Chinese government is supporting its biopharma companies through funding, policy, infrastructure and talent development.
  • China is moving from simply producing generic drugs to pursuing novel targets and creating new modalities. The current and first wave of innovation involves “fast-follow” drugs.

About the Authors

John Wong, Chun Wu, Wen Xie and Vaidyanathan Srikant are professionals with the Boston Consulting Group. They collaborated from the BCG’s Hong Kong, Beijing and Zurich offices.

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