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Wu Yifang, President of Fosun Pharma: Meeting more treatment needs through R&D and innovation

Wu Yifang, President of Fosun Pharma: Meeting more treatment needs through R&D and innovation

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  • Time of issue:2017-01-05
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(Summary description)

Wu Yifang, President of Fosun Pharma: Meeting more treatment needs through R&D and innovation

(Summary description)

  • Categories:Trade info
  • Author:
  • Origin:
  • Time of issue:2017-01-05
  • Views:0
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In 2016, Fosun Pharma has achieved remarkable results in innovative research and development, and it has also achieved fruitful results in the development of monoclonal antibodies. At the same time, overseas mergers and acquisitions and strategic cooperation highlights prominently, starting a strategic cooperation with Intuitive Surgical of the United States, and acquiring Gland Pharma, a leading injectable pharmaceutical company in India. Fosun Pharma’s path of innovation and internationalization has become more prominent, and it is moving forward with its vision of "a first-class enterprise in the global mainstream medical and health market".

At the end of the year, we interviewed Wu Yifang, President of Fosun Pharma, and interviewed Fosun Pharma's future innovation and development and international layout.

What are the highlights of Fosun Pharma’s development in 2016?

       

       Innovation is the most important social responsibility of pharmaceutical companies. Fosun Pharma always regards innovative research and development as the source of power for corporate development. In 2016, Fosun Pharma's R&D and innovation achievements appeared. Fuhong Hanlius Biopharmaceuticals has obtained 5 products and 7 preliminary approvals. Among them, the innovative bio-modified monoclonal antibody HLX07 has been clinically approved in China, Taiwan and the United States; another biosimilar drug HER2 humanized monoclonal antibody suitable for breast cancer treatment has also started phase III clinical trials. Molecular chemistry innovative drugs have also received 4 preliminary approvals from the CFDA.

The current domestic medical level and status quo cannot fully meet the treatment needs of patients. One of the important reasons is that there are no good drugs, or although there are drug treatments, there are problems such as affordability and patient accessibility. And our R&D innovation results can effectively solve the social benefits of consumers' drug affordability and accessibility, which is of extraordinary significance.

In addition, Fosun Pharma’s international layout has been very solid at every step. This year, Fosun Pharma’s acquisition of Gland Pharma, India’s leading injection pharmaceutical company, accelerated the process of internationalization. At present, Fosun Pharma’s internationalization strategy has been highlighted. We will organically combine the cutting-edge R&D innovation in Europe and the United States, low-cost manufacturing in India, human resources in China, and market demand power to promote global development.

In the future, Fosun Pharma will strive to achieve sustainable development and internationalization to create maximum value. First, we must have a strategic vision and a global perspective. Regardless of R&D, innovation, manufacturing, and marketing, we should consider the global resource layout to maximize benefits; second, we must have the depth of industry. It is necessary to have a clear understanding of the cutting-edge technologies, development trends, and competitive landscape of the focused therapeutic field, grasp the highest point, and create high value for unmet needs. This time, Fosun Pharma and Intuitive Surgical launched a strategic cooperation to establish a joint venture in Shanghai to develop, produce and sell innovative products based on robot-assisted catheter technology for the early diagnosis and treatment of lung cancer. It is to be a leader in the field of early diagnosis and treatment of lung cancer through strategic cooperation in the most cutting-edge technology.

In 2016, where did Fosun Pharma still have pain points and how to deal with it?

In the past few years, we have carried out a lot of extensional expansions in the development process. The rapid growth of enterprises, extensional expansion plays a very important role. Next, we need to further enhance the ability of endogenous growth. Fosun Pharma's resources are very rich, but they are also relatively scattered, and there are "fence walls" inside. In the future, we will integrate resources, break down barriers, further improve efficiency, and maximize the company's value.

Fosun Group has a large industrial chain, and many industries have intersections with Fosun Pharma. We need to further build a model of integrated operation, break through boundaries, and create more value through closed loops. Fosun Pharma has gradually formed a project-based mechanism this year, forming valuable projects into cross-departmental and cross-sector project teams, breaking boundaries with effective mechanisms, opening up resources, and advancing cooperation. In this way, effective resources flow like water through the channel. Facing the boundaries of equity, governance, human rights, powers, etc., through project-based "bridging", communication can be smoothed and great value can be generated.

The biggest social responsibility of an enterprise is innovation.  How will Fosun Pharma take its future path of innovation?

True innovation should be invention and creation, using the most advanced technology and the most advanced concepts to solve unmet needs. For the pharmaceutical industry, it is to meet the needs of treatment, or to detect and prevent diseases as early as possible, and to protect people's health by providing high-quality products and services. In the next few years, Fosun Pharma will still focus on the treatment of unconquered immune diseases, including tumors. Then, for some chronic diseases that have long-term effects on people's health, such as diabetes and hypertension, we should try our best to innovate and provide better treatments to solve these problems.

 

In the future, driven by the human genome and artificial intelligence technology, the medical industry will undergo tremendous changes, and innovation will surely help China's medical industry develop rapidly in the next five to ten years. If we can continue to seize the momentum of the Chinese market, and at the same time actively participate in and devote ourselves to the most cutting-edge medical technology innovation in the world, and accumulate competitiveness, I believe that Fosun Pharma will be more calm when changes come.

The theme of this year’s Fosun Group’s annual meeting has been determined to be "Deep· Exhibition”--“Intelligent Manufacturing” Happiness Ecosphere. For Fosun Pharma, how do we expand? How to create a happy ecosystem?

"Ecosphere" is a very good word. What is ecology? Just like the biological chain in nature, interdependence, competition, and mutual promotion form natural evolution. As an organization as an intelligent life body, if the ecosystem is built well, it will form a natural evolutionary process.

For Fosun Pharma, in 2017, from the perspective of sustainable development, in terms of “deep”, operations and management should be improved, and the industry should be in depth. At the same time, it should clearly understand the company’s action strategy. Concretize and refine the strategy, focus on the grasp of objectives, paths, nodes, and rhythms, and vigorously promote execution. "Exhibition" should actually be a broadening of horizons. Only by broadening the horizons can there be a broadening of thinking, and only by widening can it be combined to achieve a big pattern. In terms of “ecological circle construction”, around “disease” this axis, such as tumor, diabetes, etc., coordinated development in the fields of medicine, equipment, diagnosis and medical services, forming complementary value-added strategic product portfolio and services combination.

 

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