Sanofi reaps benefits of China's healthcare progression

China has progressed remarkably in modernizing its healthcare system, which may also benefit the pharmaceutical industry globally, according to insiders.

During the 2023 China Development Forum that ended in Beijing on Monday, Paul Hudson, CEO of France-based healthcare company Sanofi, delivered a video speech. He said that the advancement has been achieved by improving synergy among pharmaceutical, healthcare and medical insurance system reform.

The country has invested significantly in the pharmaceutical sector, leading to an increase in innovative medicines being locally developed and produced. It creates a level playing field for drug companies and ensures that the latest advancements are fully utilized in China, according to Hudson.

He added that China has also promoted greater collaboration with other countries. The value-based evaluation approach for determining medicines to be included in the national reimbursement drug list helps ensure that effective, cutting-edge drugs and therapies are available and reimbursed in a fair and sustainable way, he said.

China's healthcare providers have proven to be effective in addressing its massive population.

They are placing more emphasis on disease prevention and growing wellness and preventative care as opposed to focusing solely on treatment.

The country invested in programs and initiatives that encourage healthy lifestyles and prevent diseases. It has also leveraged cutting-edge technologies and devices, such as digital health solutions, to better manage chronic diseases.

"As a local multinational pharmaceutical company, Sanofi is dedicated to establishing health protection and support through innovative, high-quality products and solutions," Hudson said.

Sanofi is also placed to support the shift toward comprehensive healthcare with offerings ranging from prevention to treatment, from common chronic diseases to rare and complex diseases, to self-healthcare.

"The enhancement of global pharmaceutical cooperation and exchanges benefits from China's inclusive and open environment," he said. High-level opening-up and steady development of foreign trade and investment were highlighted in the recently delivered Government Work Report.

The 2023 draft plan for national economic and social development also includes strengthening the link between domestic and international markets and resources.

Those determinations provide more confidence and opportunities for foreign pharmaceutical companies, such as Sanofi, to better develop in hopes of widely benefitting the Chinese market and the country's patients.

China's implementation of priority review and approval for innovative drugs and other national policies enables companies to accelerate the introduction of innovation to China, which will ultimately benefit Chinese patients. Rooted in the country for more than 40 years, Sanofi has introduced over 40 innovative medicines and vaccines to China, as well as various innovative health services.

The company has been and plans to remain a long-time partner of China's healthcare system. It shares the Chinese government's strategic goal of improving patient access to high-quality medicines. Sanofi set out to bring more than 25 innovative products into the country between 2020 and 2025. So far, it is on pace to achieve that goal.

As for local practices, Sanofi China set up a dedicated team of internet hospital, partnering with JD Health to explore new models for chronic disease management. It launched a strategic partnership with Hangzhou-based ClouDr to strengthen early educational management of chronic diseases and explore the online-to-online model of internet health.

The company expects to invest 20 million euros ($21.19 million) annually into its institute in Suzhou, Jiangsu province during the next five years to focus on cutting-edge biological research in the fields of tumors, immune diseases, metabolic diseases and other major diseases. It hopes to accelerate the transformation of innovative scientific research results into drugs that can effectively improve the health of patients.

Hudson said Sanofi's confidence in China comes from the remarkable accomplishments of the past four decades, together with the Chinese market.

The country maintains a uniquely massive market volume and a fast pace of innovation. China is Sanofi's second-largest market worldwide, with full-year sales of 3,123 million euros in fiscal 2022, up 6.1 percent from 2021.

Future growth in the country is among Sanofi's strong ambitions. It will further play its part in continuously improving China's life sciences ecosystem.