Asia Spotlight: To Grow Further In China, Big Pharma Needs Innovative Commercial Models
China has now overtaken the U.S. in terms of the number of pharma sales reps employed by MNCs. How to manage such a large sales team in a high-turnover environment with fast-rising costs and declining productivity is a major challenge for Big Pharma, as outlined in a recent McKinsey report.
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NANJING, China - A few weeks after Merck & Co.'s China affiliate MSD and one of China's leading drug makers Simcere Pharmaceutical Group announced a new joint venture to expand access to critical lifestyle drugs across China, the two companies unveiled more details to their innovative partnership
China's State Intellectual Property Office (SIPO) is drafting a new regulation on "service innovation" to encourage companies and researchers in the country to raise their investment in, and the conduct of, innovation. However, the move may also have an impact on the soaring drug discovery industry in China as it will mean higher payments to inventors with knock-on effects on local drug discovery and CROs.
China is planning a new regulation on company employees’ “service innovation” designed to encourage inventors and invention in the country, which are seen as important contributors to economic growth. However, the new rules could also have a significant impact on the conduct of drug discovery research in China.