Pfizer Sees Bright Long Term Biosimilar Future In China
Despite shorter term general cost pressures and the time needed for approval reviews, Pfizer sees a strong future for its biosimilar operations in China, as it recorded a solid second quarter performance for its traditional franchises and unveiled a series of new health alliances in this key emerging market.
You may also be interested in...
The second quarter has been a period of stabilization for multinational drug makers in China, where the challenges of cost-cutting and a national policy to encourage domestic generics remain. Big pharmas including Novartis and Roche are voluntarily reduce prices for major products, to help them compete, reflecting a new willingness to improve patient access in the world's second-largest pharma market.
Continuing with a double-digit growth rate, China remained a leading driver for Sanofi’s global business in the fourth quarter. Going digital and building local partnerships emerged as key themes for Sanofi China to explore more opportunities, although it may face testing problems for its vaccine business in the country.
Oncologie acquires PS-targeting candidate bavituximab, which may help other cancer therapies in attacking tumors. BridgeBio's newest spinout will develop former Novartis cancer candidate infigratinib.