Compared with China's data, the contribution of medicine and medical and health services to GDP in China has increased from a low level in the past to about 5% in 20 10. If we reach the level of 10% of GDP in about10 years, the whole medical and health industry will get very benign development. According to this assumption, China's medical and health industry will grow well in the future, and there is huge room for development. When all this comes true, what will happen to our pharmaceutical industry? This problem is worth thinking about.
At present, there are several major driving forces for the development of the pharmaceutical industry in China:
The first is economic growth, that is, the growth of GDP and the continuous improvement of per capita income.
Second, the population structure is aging and chronic diseases are increasing. Especially in large and medium-sized cities in China, the degree of aging has been quite high, and the incidence of some common diseases and chronic diseases is getting closer to the level of developed countries.
Third, the support of national policies and regulations for the development of the pharmaceutical industry is also obvious. In the supporting measures of the new medical reform, although some policies such as drug price and bidding have adverse effects on the industry, on the whole, considering the market increment brought by the medical insurance coverage of 654.38+0.3 billion people in China, and the gradual improvement and fairness of the medical insurance level, the new medical reform is beneficial to the overall development of the industry. At present, the country also attaches great importance to innovation, and the "Twelfth Five-Year Plan" and other industrial revitalization and innovation plans have been continuously introduced, providing a lot of financial support. At the same time, the Ministry of Industry and Information Technology and the Ministry of Commerce have also issued a series of policies to encourage the improvement of industrial concentration, the development of large enterprises and mergers and acquisitions.
Opportunities are not only at home, but also overseas. Medical reform is not only taking place in China, but also in the United States. The Obama administration also encourages the use of more generic drugs, which is also a huge business opportunity for China enterprises. In the past three years, pharmaceutical companies in China have carried out a lot of internationalization work, and many pharmaceutical companies in China are also applying for cGMP certification, ANDA large number of ANDA reserves are being declared to the United States.
Let's compare the pharmaceutical companies in China and the United States. At present, the sales scale of domestic leading pharmaceutical enterprises is between 654.38+0 billion and 2 billion US dollars, and the profit is less than 200 million US dollars. Compared with the sales revenue of more than 60 billion dollars and the profit scale of 8 billion dollars of American enterprises such as Pfizer, the gap is still obvious. In terms of products, it is still difficult for China enterprises to come up with a global product that can be called "blockbuster". Of course, this gap is related to their different stages of development, but challenges and opportunities coexist. At present, many multinational companies have seen this opportunity and are increasing their investment in China.
In the daily chemical industry, we have to admit that in this highly competitive market, multinational companies are completely dominant. Most of our daily necessities today come from companies such as Procter & Gamble and Unilever. At present, local enterprises are still catching up, but their share is decreasing and they are at a disadvantage. There are two reasons: one is the market expansion strategy of the product line, and the other is that there is no big strategic move in the local daily chemical industry, but the local brands have been acquired by foreign capital.
Let's look at the automobile industry. In the context of the global financial crisis, China has become the largest automobile market in the world, but joint ventures still occupy an unbreakable position. Behind this situation is actually a win-win situation for the local market and foreign-funded enterprises. In the most difficult time for foreign-funded enterprises, the China market contributed a lot to their needs. Volkswagen has developed rapidly in China, and some domestic advantageous enterprises such as SAIC are also making progress, which is a win-win situation. Of course, now the country is also trying to help domestic enterprises innovate independently and build their own brands.
What will happen to the biomedical industry in China in the future? So far, this is still a question mark. To answer this question, we need to analyze three forces: multinational corporations, local private enterprises and state-owned enterprises. Established state-owned enterprises such as China Pharmaceutical Group and Shanghai Pharmaceutical Group have traditional advantages, as well as national policy inclination and financial support; Fosun Pharma is a representative of private enterprises. Like other private enterprises, they all want to participate in the competition in this market, and finally form a win-win situation for multinational companies, state-owned enterprises and private leading enterprises. But it will not be easy for any party in the game to form such a situation, and it will take great efforts.
As a local enterprise in China, in terms of development strategy, we think that the construction of marketing network should be the primary task. Because the marketing network is actually the ability to control the market, it plays a decisive role in the degree of market participation and market share. The second is research and development innovation. At first, R&D innovation was mainly based on brand generic drugs and biosimilars, while taking into account the innovative research and development of small molecule drugs, monoclonal antibodies and vaccines. The third is internationalization. At present, the trend of cooperation between multinational enterprises and local enterprises is rising, which will not only help to improve the level of domestic generic drug industry, but also promote China pharmaceutical enterprises to achieve industrial upgrading and accelerate the internationalization process. For example, Fosun Pharma has cooperated with some EU companies in the past, such as CHEMO in Spain and Longsha in Switzerland. In the future, we will cooperate with more global mainstream pharmaceutical companies to jointly develop the China market.
It is necessary to highlight innovation and internationalization, plan the future development direction, and find benchmark enterprises. From the perspective of Fosun Pharma, we should first pay attention to Johnson & Johnson as a global pharmaceutical company, because it is also a diversified enterprise. We are also concerned about Pfizer because it is a powerful integrated enterprise. But from a more realistic point of view, we also need to pay attention to companies that specialize in generic drugs like TEVA. TEVA is a company with a long history. Since 1980s, it has been developing generic drugs and gradually participating in the global generic drug market mergers and acquisitions. Now it has become the top ten in the world, and it is the only company that focuses on generic drugs.
We saw that TEVA took 10 years, and its market value increased from 10 billion dollars to 40 billion to 50 billion dollars, making it the first generic drug company in the world. (The writer is Chen Qiyu, Chairman of Fosun Pharma Group)