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China’s Drive For Innovation Stymied By “Nightmare” Pharma Policies

This article was originally published in PharmAsia News

Executive Summary

In a frank and sometimes humorous talk, Pfizer’s China GM says China has a long way to go before becoming an innovative nation.

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Pfizer China Country Manager Wu Xiaobing And General Manager For Commercial And Diversified Business Kevin Xiao On Expansion To Rural Markets In China: An Interview With PharmAsia News

China recently announced it will increase its total healthcare funding for ongoing healthcare reform from RMB 850 billion ($124 billion) to RMB 1.134 trillion ($173 billion) to build up its basic medical infrastructure and expand reimbursement to more than 800 million rural residents. Pfizer Inc., the world's largest pharmaceutical company, began its geographic expansion in China seven years ago. Last year the company launched its "Spring Bud" program to expand training for rural doctors to expedite the company's entry into China's rural markets. The project initially covered the five provinces of Zhejiang, Yunnan, Fujian, Jilin and Shandong, and will now be expanded to include Guangdong, Guangxi, Sichuan, Liaoning, Henan and Hunan. In addition, Pfizer will sponsor training programs in more than 1,000 country hospitals in rural areas this year.

Asia Spotlight: China Eclipses Japan To Become Second Largest Pharma Market

Despite a slowdown, China’s pharma market passed Japan in 2013, two years faster than expected.

China Eclipses Japan To Become Second Largest Pharma Market

Despite a slowdown, China’s pharma market passed Japan in 2013, two years faster than expected.

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