GSK Divests China Suzhou Site, Antiviral Rights To Fosun
GSK becomes latest pharma multinational to offload assets in China as competition and pricing pressure continue to mount.
You may also be interested in...
2019 will be remembered as a banner year for international drug makers as many grew at phenomenal rates in China, despite expansion of the “4+7” centralized procurement scheme and steep price cuts in exchange for reimbursement. As the government continues to emphasize affordability for cancer drugs and major anti-infectives, competition is heating up quickly and immune-oncology alone has seen six PD-1s elbowing each other for market share.
2019 was the year that China approved the first new drug for Alzheimer's in nearly two decades and for the first US approval of an original cancer drug from China. While the simmering US trade war has been addressed by a phase one agreement to be signed, other uncertainties marked a year dominated by a large vaccine scandal and resulting bankruptcy, and increasing calls to include China in global clinical development plans.
Opened with a big splash just two months ago in a brand new headquarters in Shanghai, Pfizer's Upjohn established products subsidiary is now merging with Mylan to create the world's largest generics group, stirring up local concerns that the focus could shift from China back to the US.