Launching innovative biopharma in China
China has swiftly become one of the largest biopharmaceuticals and medical products markets in the world. Quicker regulatory approval and widening market access are among the profound changes that have made China a significant market to launch innovative medical products. Biopharma companies looking to launch innovative medicines in China can pull ahead in the race by taking advantage of key cultural and regulatory conditions. Deloitte introduces a series of four articles that break down the dynamics of a successful launch.
Viewpoints / key findings
In this series we identify four critical areas that support such a strategy and are crucial to a successful launch in China:
A new view on market access and reimbursement
Life sciences companies would benefit from tailored launch campaigns to deftly handle the vastly changing Chinese marketplace. 3 aspects to consider in developing your strategy:
- Pursuit of public reimbursement
- Viability of the public payer option
- Choosing the model, shaping the market
A new view on China’s digital health care
Getting acquainted with China’s digitally savvy consumers means your innovative product launch can target them directly. It is critical to understand the tendencies and needs of physicians and patients, to best engage them with the right content, channels and methods. Taking full advantage of all available digital opportunities can give your product the edge it needs to cut through the noise.
The rewards of regulatory change
China's historic delay in drug approvals is a thing of the past, and the country looks toward 2030 with solid objectives for a more accessible and inclusive health care environment. Biopharma companies eyeing up China should set their sights on preparing an effective launch strategy. The CFDA’s regulatory reforms, including fast-track approval and a local-study waiver for qualifying products, should be examined and exploited for launch success. Their benefits extend beyond the biopharma manufacturer to China’s enormous population, who await the arrival of innovative new drugs.
Agile responses to China’s health care transformation
Being aware of the rapid-fire changes shaking up China’s health care environment is simply not enough these days. The changes demand that biopharma companies look hard at their approach to uncertainties, team empowerment, adroit decision making and smart collaboration with partners. The successful product launch is one that reflects agility at a programme and enterprise level, and the bonus is the introduction – or reintroduction – of speed, flexibility, customer focus and continuous improvement to the core of your company.