The 2021 International Biopharma Industry Week was held in Shanghai last week. According to the Career Development Office (CDO) of Fudan University School of Management, the healthcare industry drew the attention and was chosen by 16.9% of its MBA graduates this year, which makes it one of the three most sought-after career paths for the Fudan MBA students. Recently, the CDO invited Cai Jingyu, Management Consulting Partner of Strategy and the consulting business unit of PwC, to share with the students his analysis of the prospects of the Chinese pharmaceutical industry.
Mr. Cai emphasized that since 2016, the healthcare industry has been among the top ten national pillar industries of China. The government has made all-round efforts in policy and capital to help its development and transformation. He pointed out that Chinese pharmaceutical companies are gradually expanding their R&D from the field of conventional small-molecule drugs based on chemical compounds, to that of biologic drugs, which are large-molecule drugs based on living cell lines. With China's biopharmaceuticals currently accounting for only about 30% of the market, Mr. Cai believes there is considerable potential for China's biopharmaceuticals in the future. And some of them are already exploring cell and gene therapy.
Mr. Cai advised the Chinese pharmaceutical companies that they must optimise their product portfolio and explore new business models, enhance collaboration among internal departments; as well as promote digital transformation, in order to seize the new opportunities presented in the national healthcare reform.
