Life sciences companies eyeing innovation breakthroughs in nation
Global life sciences industry players see new opportunities in China, the world's second-largest pharmaceutical market, as the government pushes for innovation for a healthier country.
"Six years ago, (AstraZeneca) only paid around 1 billion yuan ($148.8 million) in taxes, but now we pay 3 billion yuan as our sales have tripled," said Leon Wang, executive vice-president and international and China president of British-Swedish biopharmaceutical group AstraZeneca. The company entered China in 1993 and established its China Commercial Innovation Center in Wuxi, Jiangsu province, in 2017.
"Our healthcare internet of things strategy started here (in Wuxi), and it will leave its mark across the country and along the routes of the Belt and Road Initiative, bringing benefits to patients not only in China but across the world," said Wang.
