Pfizer committed to future development in China

United States pharmaceutical giant Pfizer is embarking on a new journey as a life science company focusing on innovation, and will use its expertise to root itself deeper in China and contribute to the country's Healthy China 2030 Initiative, the company said.

The year 2021 marks the beginning of a new round of transformation for Pfizer after it spun off its off-patent branded and generic established medicine unit－Pfizer Upjohn－in 2020.

"We are no longer a large, diversified entity with a substantial generic medicine portfolio," said Jean-Christophe Pointeau, who took over the role as the president of Pfizer Biopharmaceutical Group China in September. "We are a more focused life science company committed to the discovery, development and manufacture of innovative medicines and vaccines."

In support of the development of the healthcare industry in China and the group's long-term goals, Pfizer China will pay greater attention to innovation and cooperation in order to strengthen its commitment to the country in the next five years.

"By 2022, China will participate in more than 80 percent of global first-in-patient studies and global pivotal studies (of Pfizer)," said Pointeau. "And second, more than 80 percent of these programs are ready for simultaneous submission."

Apart from developing its own research and development pipeline, Pfizer China is looking forward to establishing more partnerships with local biopharmaceutical companies to boost innovation.

"China is becoming an important source of innovation for Pfizer and the world," Pointeau said. "We are committed to bringing our global resources and network to support the development and commercialization of breakthroughs from these innovative startups."

It partnered with four China-based biotech companies including Suzhou based-CStone Pharmaceuticals in 2020 and achieved exciting results, according to Pointeau.

With support from the two pipelines, the company's goal is to debut 24 new medicines, indications and dosage forms to meet the diverse needs of people in China, said Pointeau. A restructuring of departments at Pfizer China will also take place to facilitate the launch of these products.

"Pfizer aims to bring our first-in-class and best-in-class products into China at an unprecedented pace," he said.

Pfizer China is also committed to improving new medicine market access and improving affordability in China. And it will continue to do so in the future, said the company.

"We've strongly supported China's regulatory reform and accelerated movement toward a regulatory system that's harmonized with the global regulatory system. This helps to ensure that innovative medicines come to China at the same time they come to the rest of the world."

Pfizer China participated in the negotiations for the National Reimbursement Drug List with the aim of helping China establish a sustainable system for pricing and reimbursement.

"We've also actively supported the government's prioritization of the development of a multi-layered medical security system and are encouraged by the many city supplemental medical insurance programs that have been introduced recently," Pointeau said.

Digitalization will be another direction of development for Pfizer in China.

"It's important to recognize the changes that the digital revolution is bringing to our sector. Thus, we're modernizing our go-to-market model," he said.

Pfizer launched its operations in China more than 30 years ago and has introduced more than 60 innovative drugs and vaccines to the Chinese market. During the fourth China International Import Expo, which ran from Nov 5-10 in Shanghai, it made China and Asia debuts of an array of new products covering fields such as immunology, rare diseases and vaccination.

Pfizer China said it is positive about development in the country and is ready to play a bigger role in supporting China's dual-circulation development paradigm.

"China is one of the largest and most important pharmaceutical markets in the world today. China's economic transformation has resulted in a thriving middle class, which has increased demand for healthcare," Pointeau said.