The Financial Express

Chinese opportunities attract global medical companies

Evaly and Fianancial Express Evaly and Fianancial Express
Flags of different countries and regions standing at a square of the CIIE venue National Exhibition and Convention Center(Shanghai). Photo: Global Times Flags of different countries and regions standing at a square of the CIIE venue National Exhibition and Convention Center(Shanghai). Photo: Global Times

The second China International Import Expo (CIIE) successfully concluded over a week ago.

During the expo, the medical equipment and health care exhibition area became the base for pharmaceutical giants. There were abundant new products, signing ceremonies and other activities taking place during the course of the fair.

Industry giants from all over the world have expressed their hope that they will be able to use this window to seize China's booming health market.

Over 60 health care companies from the world's top 500 attended the expo, double the number that attended last year, and the medical exhibition area was the first to see full occupancy, according to the CIIE's official website. It also noted that more than 200 new products were brought to the fair, including those which were making their debuts globally, in Asia or in China.

"China is one of the most important markets in the world, and Bayer will always pay attention to the development of the Chinese market," said Jiang Wei, president of Bayer Group Greater China. "We will expand our determination and strategic layout, make full use of our policy advantages and a sound market environment, and provide the products and solutions required according to the needs of Chinese consumers."

"China is one of the largest markets in global sales. We have strong business ties with China. We will continue to invest in the Chinese market," Robert LaCaze, member of the Executive Committee of Bayer's Pharmaceuticals Division and head of the Oncology Strategic Business Unit at Bayer, said during an early interview with the Global Times.

Bayer has participated in both CIIEs. This year, it presented prescription drugs, healthy consumer goods and digital innovation under the theme "Can We Live Better."

During the fair, Beijing Anzhen Hospital under Capital Medical University signed a drug purchase intention agreement with Bayer, and the planned purchase will be completed in 2020. The two sides will make exchanges and cooperate on drug treatment and drug innovation for  the treatment of cardiovascular diseases.

Another pharmaceutical producer, Sanofi, said that it had signed a master services and collaboration agreement with Ping An International Smart City Technology to develop and implement innovative solutions for diabetes management and other fields of mutual interest for patients and healthcare practitioners.

Take TRIO 2.0 as an example. Sanofi's extensive medical and clinical expertise, together with Ping An's digital capabilities including AI and cloud-based big data analytics, will effectively improve patient outcomes, reduce medical costs and deliver effective, real-time, personalised diabetes support for patients, the company said.

This year, Johnson & Johnson once again attended the CIIE to demonstrate innovative products and advanced technology across medical devices, pharmaceuticals and consumer health. Many products will soon make their debuts around the world or in China.

"The company will continue to support the capability-building of Chinese healthcare professionals, enhance local R&D and advanced manufacturing capabilities," Will Song, chairman of Johnson & Johnson China, told the Global Times.

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