The development of the domestic pharmaceutical industry continues to improve, and a large number of talents from multinational pharmaceutical companies are turning to local companies

Recently, Dr.
Joseph E.
Eid, an expert in the medical field, officially announced that he would join Hengrui Medicine in October as executive vice president, chief medical officer and head of global drug development
.
It is reported that Dr.
Joseph E.
Eid, as a medical oncologist and hematologist, has more than 20 years of experience in clinical development and medical affairs in the academic medicine and biopharmaceutical industries
.
It is worth noting that before joining Hengrui, Dr.
Joseph E.
Eid also held senior management positions in many multinational pharmaceutical companies such as Roche, Merck, Bristol-Myers Squibb
.
Dr.
Joseph E.
Eid's joining a local company this time is not an exception in the industry.
It is reported that since this year alone, a large number of senior executives of multinational pharmaceutical companies have joined domestic pharmaceutical companies
.
For example, on August 1, Luoxin Pharmaceutical Group Co.
, Ltd.
issued an announcement, appointing Dong Lijun as the group's executive vice president and chief operating officer (COO)
.
Dong Lijun was previously the general manager of AstraZeneca China's digestion and full product development business department.
At the end of July, he announced his resignation from AstraZeneca China
.
On the same day, Beijing Danxu Biopharmaceutical Co.
, Ltd.
announced that it had hired Shi Qian as the company's CEO to be responsible for Danxu's various tasks
.
Before joining Danxu Biotechnology, Dr.
Shi Qian was the general manager and head of scientific research of Apollomics China
.
Going forward to July, Medicilon announced that it had appointed Dr.
Xuedong Dai as Executive Vice President of Medicilon International R&D Services
.
Before joining Medicilon, Dai Xuedong served as an executive in Xi'an Janssen, Huiyuan Biotechnology, GSK, Xenoport and other well-known domestic and foreign pharmaceutical companies and CROs
.
On June 8, Qian Wei, general manager of Roche's Oncology Division I, also announced his appointment as the Chief Commercial Officer (CCO) of Junshi Bio, responsible for the company's commercialization planning and business operations.
.
.
Multinational pharmaceutical companies from the above and the past two years In terms of flow, the flow of executives of multinational corporations has obviously accelerated
.
The industry believes that this may be due to the drastic changes in the domestic pharmaceutical industry.
Multinational pharmaceutical companies have adjusted their strategies and talent structures in China on a large scale; and the development of the domestic pharmaceutical industry continues to improve.
A large number of local pharmaceutical companies are booming, which requires a large number of companies with international perspectives.
The senior executives led the way, and therefore offered more generous terms, which was caused by the continuous return of foreign medical talents
.
It is understood that in the past, foreign companies were favored by standardized management with high income and high benefits.
However, with the rapid development of the local pharmaceutical industry and companies, the advantages of foreign companies are no longer obvious
.
Some people in the industry have revealed that the various processes of foreign pharmaceutical companies are indeed very standardized, but they will also be restricted by overseas headquarters’ compliance policies, project budget approval, and project evaluation standards, leading to the promotion of various businesses.
It is cumbersome and requires a long process
.
In comparison, the promotion of various projects of domestic pharmaceutical companies will be more flexible and will be more supported by local policies
.
Therefore, with generous remuneration and favorable prospects, it is not difficult to understand that talents from multinational pharmaceutical companies are constantly shifting to local pharmaceutical companies
.
From multinational pharmaceutical company executives to local pharmaceutical company data analysis, the industry believes that most of them choose innovative companies, and they are directly responsible for the Chinese region or the head of the R&D center, which also shows from the side that the innovation of China's pharmaceutical companies is rising rapidly
.
However, it should be noted that although the number of senior executives of multinational pharmaceutical companies leaving their jobs to enter local companies has continued to increase in recent years, some have returned to multinational companies shortly after entering local pharmaceutical companies
.
Analysts predict that as multinational pharmaceutical companies enter a period of strategic adjustment and local pharmaceutical companies enter a period of breakthrough in transformation, the competition for talent between the two parties is expected to intensify, and the flow of talent between foreign-funded companies and local companies will become the norm
.