Under the policy of China's medical reform, multinational pharmaceutical companies become big winners?

[pharmaceutical network market analysis] in recent years, the performance of multinational pharmaceutical companies in the Chinese market has achieved strong growth This is mainly due to the continuous and rapid growth of China's pharmaceutical market scale, which has become a global pharmaceutical market next to the United States In addition, since China officially joined the ICH in June 2017, CFDA has greatly shortened the time of domestic new drug import by accepting overseas clinical data, setting up a list of clinically urgent overseas new drugs and other policies
According to the third quarter report of 2019 released by multinational pharmaceutical companies, China's market data is very "surprising": MSD's 90% growth makes other multinational pharmaceutical companies "out of reach"; Roche's mainland China market and Hong Kong market, the first nine months' performance increased by 53%; Lilly's third quarter's China market sales increased by 33% year on year; AstraZeneca's first three quarters' China revenue increased year on year Length 37% In fact, this phenomenon surprised many people in the industry Since the consistency evaluation policy was issued in 2015, the national policy encourages "domestic enterprises to replace the original research", and domestic enterprises have given great expectations On the one hand, local pharmaceutical companies believe that generic drugs that pass the consistency evaluation will get preferential policies On the other hand, they believe that the era when the patents of multinational pharmaceutical companies expire and the original research drugs maintain high prices in China will never return In the eyes of many insiders, the business of multinational pharmaceutical companies in the Chinese market will be hit However, with the implementation and promotion of centralized and volume purchase of national drugs, the follow-up logic has not evolved as expected Although the price of original research drugs has been reduced in China, there are still some high priced original research drugs that are difficult to enter the key market of hospital channel, coupled with rapid and large proportion of imitation and replacement, the market share of original research drugs of transnational pharmaceutical enterprises has indeed been affected But the price of local generic drugs is further reduced, and the expected dividend has not come In fact, the counter trend growth of multinational pharmaceutical enterprises is mainly due to the positive strategic adjustment in recent years according to the policy background Accordingly, some transformation measures have been formulated and implemented, which roughly include the following four aspects: R & D innovation transformation, mature drug asset divestiture, marketing model transformation, and transformation from "product centered" to "patient-centered" In particular, in 2019, in order to stabilize or even further accelerate its layout in China, many multinational pharmaceutical companies, such as Novartis, Pfizer, Sanofi, GSK, BMS and so on, took frequent actions For example, Roche invested RMB 863 million in October, and the Roche innovation center established in Shanghai was officially completed, becoming the third largest strategic center in the world In November, Novartis shifted its focus from drug discovery to early clinical development and the scale and field of clinical trials of halitch, so as to accelerate the development of new drugs Amgen, on the other hand, recently bought 20.5% of Baiji Shenzhou stock, worth about $2.7 billion, and the two sides reached a global strategic cooperation relationship on cancer It is proved from the three quarterly reports and various facts that multinational pharmaceutical companies have achieved good results by observing the trend of China's policy reform and rapidly adjusting their own strategies In addition, there are data showing that from 2017 to 2018, the number of approved innovative drugs increased significantly In 2018, 51 new drugs were approved for marketing, 40 of which were imported In addition to the large increase of imported varieties, the time gap between the domestic and foreign listing of innovative drugs is also decreasing Previously, innovative drugs were listed in the European and American markets, and it will take 3-5 years before they can be listed in China In the future, under the guidance of policies, this time gap will be reduced to one year or even shorter For the innovative drugs listed in the European and American markets, multinational pharmaceutical companies will accelerate the introduction in China It can be predicted that in 2020, there will still be a large number of imported new drugs that have been listed in the global market or will enter the Chinese market At the same time, the source of transnational pharmaceutical enterprises will also produce more innovative drug products With the increase of their familiarity in China, the import growth rate will obviously continue Industry insiders said, "since this year, the challenge of the pharmaceutical industry is not consistency evaluation, nor volume procurement, but the country's further opening up, so that we can compete with international pharmaceutical giants The future depends on innovation " In the future, in the field of innovative medicine, except for a few enterprises, domestic pharmaceutical enterprises are difficult to compete with foreign enterprises in a short period of time The dividend of innovative medicine will be mainly concentrated in foreign pharmaceutical enterprises and a few domestic pharmaceutical enterprises, and the operating pressure faced by small and medium-sized enterprises will increase And these pharmaceutical companies want to withstand the pressure of better development, innovation is a hurdle that must be crossed in the past.