Uncertain Times: New Lockdowns, Ukraine Challenge Chinese Pharma
As residents of China's largest city brace for a possible prolonged lockdown, the gathering COVID-19 outbreak is set to cause some pharma disruption in the country, while broader geopolitical factors including Ukraine are hindering the industry's global ambitions.
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In their latest charm offensive, Chinese regulators issue policies clearly designed to encourage the import of innovative drugs from overseas and better serve foreign drug makers already operating in the country.
China is signalling its intention to gradually re-open its borders amid real-world data showing few mild-to-moderate cases progress to severe symptoms. Meanwhile, Pfizer's Paxlovid is seemingly struggling to gain traction amid use guideline changes.
While many pharma firms in China choose to partner with US companies, Jiangsu Hengrui is relying on itself to go global. The Chinese pharma giant is betting on its newly established US subsidiary Luzsana in a major move to make its wide-ranging products more available, accessible and affordable to patients in the US and the rest of the world.