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[Xinhuanet Interview] Chen Qiyu: Innovation is the most important social responsibility of Fosun Pharma

[Xinhuanet Interview] Chen Qiyu: Innovation is the most important social responsibility of Fosun Pharma

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  • Time of issue:2016-11-28
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[Xinhuanet Interview] Chen Qiyu: Innovation is the most important social responsibility of Fosun Pharma

(Summary description)

  • Categories:Trade info
  • Author:
  • Origin:
  • Time of issue:2016-11-28
  • Views:0
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[Editor's note] On the afternoon of November 25, 2016, Chen Qiyu, Chairman of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. accepted Xinhuanet, Shanghai Association of Listed Companies, Shanghai Federation of Economic Organizations, Shanghai Pudong Financial Services Bureau and China Financial Information Center invited to be a guest on Xinhuanet and accept an interview. This is the second interview of the second China (Shanghai) Listed Companies Corporate Social Responsibility Summit series of large-scale media interviews with Shanghai listed companies.

 

      Next, the editor will take you to the interview site and interact with Chairman Chen Qiyu on corporate social responsibility and other issues!

Host Sun Lei

Hello everyone, here is the second series of events of the 2nd China (Shanghai) Listed Companies Corporate Social Responsibility Summit, and the second interview of the all-media interviews with Shanghai listed companies.  Today, I am honored to invite Mr. Chen Qiyu, Chairman of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. to visit Xinhuanet.com. I am Sun Lei, the host of Xinhuanet, and this is my colleague Liang Hongru. We will conduct interactive interviews with Chairman Chen Qiyu on corporate social responsibility and other issues.

Chairman Chen, hello! First, please give us a brief introduction to Fosun Pharma.

 

Chen Qiyu, Chairman of Fosun Pharma

Hello! Fosun Pharma was established in 1994. We were listed on the Shanghai Stock Exchange in 1998. At that time, it was the first private listed company in Shanghai and the first private listed company in the pharmaceutical industry. Therefore, Fosun Pharma benefits from the development and support of China's capital market. In 2012, we were listed on the main board of the Hong Kong Stock Exchange, and now we are an A+H listed pharmaceutical company.

In the pharmaceutical industry, we have our own characteristics. We are the layout of the pharmaceutical health industry chain. We have our own in the research and development, manufacturing, and sales of pharmaceuticals, including medical equipment, medical services, and pharmaceutical distribution, and retail. Core business and major investments. We are also mainly focusing on the Chinese market. At the same time, the current business layout also focuses on internationalization and globalization. Our R&D has a global layout in Shanghai, Chongqing, Taipei, and San Francisco.

 

Host Sun Lei

Fosun Pharma is also a benchmark industry in this industry. What do you think is Fosun Pharma’s success?

 

Chen Qiyu, Chairman of Fosun Pharma

It's hard to say that we have become a benchmark company, and we are still growing. Especially after the company went public, it has been 18 years from 1998 to the present, and the company has achieved relatively large development. There are several elements:

First, we still pay more attention to talent and team building. This is the core element of a sustainable growth company, especially in the fast-growing and continuously developing Chinese market. There are many opportunities. How do you seize the opportunities and lead the team to grow and develop? The construction of the talent team is very important. Always let the enterprise form a continuous innovative spirit, we have to set higher goals for the next stage at different stages of development, and encourage everyone to develop the enterprise with an entrepreneurial spirit and mentality.

Secondly, we have a relatively long-term, sustained and continuously optimized development strategy. Since we went public in 1998, Fosun Pharma has been developing along this path of industrial chain construction. From the pre-marketing diagnostic reagents as the main business, after the listing, the pharmaceutical industry, medical equipment, drug distribution and retailing to medical services, such an industrial chain needs a long time to build. At present, such a strategy is also unique in the global industry. European and American companies pay more attention to focus and concentration, but China's market, China's structure and China's current market also give us an opportunity to lay out the entire industry chain. You must grasp the persistence, and you must pay more and persist for longer. It is already very challenging to do a good job in a segment. We need to establish a competitive advantage in multiple business areas. This is also the accumulation of long-term strategies for us. The benefit of this long-term strategy accumulation is that today our entire industry chain is rich in resources. The future development trend of the industry, the judgment of policies, and the provision of comprehensive solutions for end users have brought us great advantages and Synergies between industries and sub-industries. These will be gradually released in the future.

Third, companies always insist on innovation. As a new entrant in the industry, we must use innovative methods and continuous innovation in order to achieve "latecomers first" or maintain a leading position. In recent years, for example, in terms of drug R&D and innovation investment in the pharmaceutical industry, we have also been at the forefront of the industry for many years and have continuously increased R&D investment. During the "Twelfth Five-Year Plan" period, our R&D investment in the pharmaceutical sector also exceeded RMB 2 billion; during the "Thirteenth Five-Year Plan" period, we will continue to increase investment in innovative R&D. In innovation, we break the borders of national borders, set our R&D layout, innovation source and starting point in the United States, and create a matching pattern in San Francisco, San Diego, and China. Recently, in the research and development of monoclonal antibody innovative drugs, an innovation laboratory has been established in Taiwan to accelerate the progress of clinical trials of innovative products. We have always insisted on investing in innovation. Including respect and attention to innovative teams and talents, this is also very important.

Fourth, as a listed company, we still insist on actively participating in market competition, strictly controlling corporate operations, reducing costs, and improving corporate operating performance. This also makes us more confident to participate in the competition of different businesses.

 

Xinhua Net Liang Hongru

Please introduce the latest developments in Fosun Pharma's innovation.

 

Chen Qiyu, Chairman of Fosun Pharma

Innovating purely from a technical point of view, we have recently focused on two hot spots. One is precision medicine. From the global solution to health and the treatment of major diseases, especially in the treatment of tumors, including rare diseases, precision medicine is now used, which is based on the Human Genome Project. Up to now, our understanding of genes, the occurrence of diseases and the association of genes, and the exploration and research of disease treatment and gene associations have become more and more in-depth. From diagnosis to medicine, to treatment plan and so on, the technology is becoming mature. Especially in the field of oncology, it has entered more and more personalized and accurate diagnosis and treatment. The diagnosis process, medication process, biological therapy, and cell therapy design will enable some malignant diseases with low cure rates in the past, and there will be better solutions under precision medicine in the future. Our current innovative R&D resources are more deployed in the overall situation of precision medicine, focusing on tumor-centric treatment.

The second is the direction of artificial intelligence and future medical robots. Through the development of IT technology, the development of the Internet, the development of big data, and the development of artificial intelligence deep learning capabilities in recent years, especially in the United States, the exploration of the artificial intelligence medical field has begun. IBM's intelligent robots have been employed in many positions in the United States as assistant doctors. Through artificial intelligence deep learning, the abilities of the most scarce, complex, and excellent doctors in this market can be accumulated and continuously developed on machines with learning capabilities.

In the past, human beings relied on human learning in the mastery of medical technology. From entering the medical school to clinical practice, from a small doctor to a big doctor, to an experienced top doctor, after years of accumulation of experience, he is old and next A group of doctors must relearn. In the case of artificial intelligence, this pattern will be changed. In the future, in the supply of medical resources, artificial intelligence and big data will be used to solve the supply problem of scarce medical resources. I believe that in the near future, everyone will be able to get excellent and top-level doctors' resources, and this will be solved by artificial intelligence. We are also actively paying attention to this field.

 

Xinhua Net Liang Hongru

What is the latest development of Fosun Pharma in innovative medicine?

 

Chen Qiyu, Chairman of Fosun Pharma

We recently have the latest developments in biosimilars. In this regard, drug innovation is no less than innovative drugs. This is also urgently needed by clinicians and patients in China. Like breast cancer, there is a monoclonal antibody drug Herceptin, which is very important for HER2-positive patients, but many patients cannot afford the treatment cost of several hundred thousand yuan. The drugs we developed can become a new supply solution after being marketed in the future, which is expected to greatly alleviate the burden on patients. The innovative bio-modified monoclonal antibody HLX07 of Fosun Pharma subsidiary Fuhong Hanlius has been clinically approved in China, Taiwan, and the United States; another biosimilar HER2 humanized monoclonal antibody suitable for breast cancer treatment The antibody has also completed phase I clinical trials and will officially launch phase III clinical trials in the near future.

 

Host Sun Lei

In your opinion, do companies have a dominant position in market competition? How to get the right to speak?

 

Chen Qiyu, Chairman of Fosun Pharma

Now in the imitation category, whether it is drugs or medical devices, Chinese companies have a greater say in this aspect. For foreign generic drug companies, it is difficult for their products to reach the domestic market. After the original drug, the patent expired, it still occupies a large market share in China. In terms of innovative drugs, Chinese companies have just started, including medical devices. In this regard, Chinese companies still lack the right to speak. We see that innovative drugs and innovative medical devices are the growth sectors of China's medical market that will be in great demand in the future. In this sector, the voice of Chinese companies is gradually taking shape. With the continuous support of the country's "Eleventh Five-Year Plan" and "Twelfth Five-Year Plan" policies, including the "Thirteenth Five-Year Plan", they are still supporting major new drug creation companies, and companies are also actively investing.

I think that in the next three, five years, or longer, the pace of launching innovative drugs by Chinese companies will gradually accelerate. At the same time, my country's medical insurance policy is also being adjusted in time. It is believed that with the matching of the rhythm of all aspects, Chinese companies will gradually increase their voice in the market of innovative drugs and innovative medical devices. This is something that the government, enterprises, as well as clinical and payment institutions, everyone must actively work hard. This is not something that an enterprise can decide unilaterally, but is the result of everyone's joint efforts.

 

Host Sun Lei

From the domestic market to the overseas market, Fosun Pharma has recently made many acquisitions. How does Fosun Pharma view the globalization layout?

 

Chen Qiyu, Chairman of Fosun Pharma

China's medical market is already the world's second largest market, and the Chinese market maintains a relatively high growth rate. Therefore, Chinese companies have benefited from the development of the market over the years and have achieved relatively large growth. While growing, we are also facing some bottlenecks and constraints for future growth. For example, as everyone knows, the investment cycle of innovative drugs is relatively long and the amount of money is relatively large. If only 5% to 8% of the global market is engaged in market activities, the benefits obtained will not be enough to compete with multinational companies for innovative resources. Therefore, Chinese companies must gradually stand on the global market and compete with global companies.

Chinese companies have market advantages and also have certain corporate profit contributions. How do we build up the manufacturing capacity and comprehensive investment in the Chinese market, first extend it in the domain of imitation drugs, and then enter the United States, Europe and other markets? Including Fosun Pharma, there are already a number of Chinese companies that have an advantage in the Chinese market, and some aggressive pharmaceutical companies are planning to enter the global market.

When we enter the global market, we first consider that we have formed a strong generic drug manufacturing and research and development capabilities in China to connect with the resources of the industry. Including a relatively large acquisition that is currently underway, the acquisition of an Indian, global injection company. After acquiring this company, more injection products can be grafted onto this corporate platform, which can be registered and sold in many countries around the world. It has also developed many products with technical problems that Chinese companies have not solved currently, which can also be brought to the Chinese market.

Our innovation capabilities have been deployed globally, especially in the United States. Through mergers and acquisitions, we deploy to innovative resources, and through Indian acquisitions, we are grafted on a global standard low-cost base. In the future, we will gradually import our products to major markets around the world.

 

Host Sun Lei

When it comes to the global layout, in addition to fancy financial statements, there are also corporate social responsibility statements. I know that Fosun Pharma has done work on the prevention of malaria for a long time. Can you talk about this?

 

Chen Qiyu, Chairman of Fosun Pharma

Fortunately, what we do is to treat diseases and save people. This is also the mission of our company in pharmaceuticals, medical equipment, medical services, etc. We must provide patients with more timely diagnosis and treatment, more effective treatment, and more efficient Supply, more satisfactory service and more affordable payment. Guilin Pharmaceutical, a member company of Fosun Pharma, is the only preparation company in China that has passed the WHO-PQ certification of the World Health Organization. Fosun Pharma’s artemisinin series of innovative drugs have benefited many global malaria patients and saved countless lives from their research and development to globalization and international recognition.

 

Host Sun Lei

Fosun Pharmaceutical has been on this road for a period of time and it has been very successful. Are there any other pharmaceutical companies that can learn from it?

 

Chen Qiyu, Chairman of Fosun Pharma

The process of globalization is now very fast, especially like the pharmaceutical industry, which has many thresholds and barriers. If you want to enter globalization, you must break or cross these thresholds and barriers. In the middle, you have to use global standards and advanced standards to improve yourself. Therefore, one is that the product form constantly follows up with global demand, and the R&D and production system must pass global system certification. I think it is worth the investment in this area. The difficulty of this investment itself is also very high. We need to use first-class talents and technology, and use relatively large funds to invest, complete, and improve, and complete and improve quickly. Among them, you must have the ability to communicate and communicate with international organizations and build your own internationalization capabilities.

 

Xinhua Net Liang Hongru

I want to ask a question related to social responsibility. As the chairman of a pharmaceutical company, our people often report that "seeing a doctor is difficult and expensive". What do you think of this problem?

 

Chen Qiyu, Chairman of Fosun Pharma

Does the problem of "difficult and expensive medical treatment" exist for the Chinese people in medical treatment? Apparently, it exists. In fact, Chinese people are relatively happy. Behind this feeling of "difficult and expensive medical treatment" is that my country's current medical resources are equally open to all people. No matter where you are, you can go to the highest level hospital in our country. In the middle, in our entire medical process order, there is actually a lack of systematic control and reverse flow. Our medical insurance policy is still in the process of perfecting. There may be many drug countries that cannot be fully reimbursed, and individuals have to pay, and there is no large-scale coverage of commercial medical insurance.

China's medicines are generally not expensive in terms of the global system, and of course there are areas worthy of improvement. Foreign innovative drugs are approved in the U.S. or Europe, and the interval between them is slightly longer than the other time when they are used in China. This is in the process of drug import, registration and other aspects, as well as some regulatory procedures. These problems, with the determination of the general direction of our medical reform, are all around solving the problem of "difficult and expensive medical treatment". I believe that as the central government implements the medical reform, I believe it will change in the future. Good doctors will not only work in public hospitals but also in private hospitals. In the Internet mode, you have to ask questions, you don't need to travel from Jiangxi to Shanghai, you can communicate on the Internet first. The price of medicines will also drop significantly with the tendering and other systems. The country is also rapidly adjusting the approval policies for innovative drugs, establishing a green channel mechanism, and the launch of innovative drugs will become faster and faster. With the launch of domestically-made innovative drugs, prices will drop. Including the national security system will be improved, commercial insurance is accelerating, these will be gradually eased in the future. Of course it can't be done in one step. Among them, our pharmaceutical companies still have to make contributions.

 

Xinhua Net Liang Hongru

Is there a problem of insufficient supply in the medical market?

 

Chen Qiyu, Chairman of Fosun Pharma

In fact, there are such problems in the global market. There are just so many doctors and the training process of good doctors is so long. We need to optimize the layout. This is very important at what level of doctors and what course of disease should be treated. It cannot be said that all the top doctors are required to perform simple operations, the key is "matching". If the big doctor sees simple diseases, what should the little doctor do? No exercise and development. This is the process of balancing and optimizing medical resources, and the reconfiguration between the use of medical resources and the medical demand side is very important. The shortage still exists, but it is not as serious as we perceive. Optimization can still solve a lot of aspects.

 

Host Sun Lei

The Global Health Promotion Conference was held in Shanghai. As a medical and health industry group, what do you think is the future and trend of the development of our medical industry in China?

 

Chen Qiyu, Chairman of Fosun Pharma

The future of China's medical industry development has several aspects: First, sooner or later, China's medical industry is the world's largest market. This is determined by our population and the sustainability of our economic development. So, I think this is a big trend. Second, in China's medical industry, world-class companies will surely emerge. The scale and magnitude of today's medical industry does not match the scale and magnitude of our market today, and no company has become one of the world's leading companies. Third, the motivation for Chinese companies to go global is very strong. Chinese companies no longer compete in the local market, but will go global. Fourth, the innovation capabilities of Chinese enterprises and the innovation capabilities of the global resource portfolio will be greatly improved.

In this regard, Chinese-style innovation, the cost advantage of Chinese innovation, and the large number of cases will help Chinese companies accelerate their pace of innovation. In addition, China’s medical service industry will be restructured under national policies, and on the basis of further strengthening and improving the public hospital system, a very efficient and very competitive private and private hospital system will emerge, which will restructure the medical market. Order makes the medical process and distribution system more scientific.

 

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