Disclaimer: Due to limited proficiency, errors are inevitable, or some information may not be timely. Please feel free to leave a message to indicate. This article only provides an introduction to medical and health-related drugs, and does not recommend treatment plans (if applicable); This article does not constitute any investment advice.

On the morning of November 6th, at the 7th China International Import Expo (CIIE), Jean Christophe Pointeau, President of Pfizer China, a multinational pharmaceutical giant, revealed that the company will launch the "Pfizer China 2030 Strategy" during this year's CIIE. From 2025 to 2030, Pfizer will invest 1 billion US dollars, about 7.5 billion yuan, in China. Pfizer will continue to invest in accelerating innovation, improving diagnostic capabilities and treatment standards, and promoting the development of the local biotechnology industry to support the 'Healthy China 2030' initiative.

This strategy is based on three pillars: firstly, accelerating the launch of innovative drugs and introducing breakthrough innovative products more quickly; The second is to continue to improve diagnostic capabilities and treatment standards, especially in rural areas, and promote the connection between first-class hospitals and rural areas; The third is to promote the development of the local biotechnology industry. As an important part of this strategy, Pfizer and China Beijing Tianguangshi Biotechnology Co., Ltd. signed a memorandum of cooperation on site. The two sides will work together to develop innovative treatment plans for patients with multiple myeloma. This is the first local biotechnology cooperation project of Pfizer Ignite since its launch in Chinese Mainland. Pfizer promises to collaborate with local biopharmaceutical companies to conduct Phase I, II, and III clinical trials, not only accelerating development but also bringing it to the United States, Europe, Japan, and around the world.

According to Pfizer China's 2030 strategy, Pfizer's newly established R&D center in Beijing will upgrade Pfizer's existing global innovative drug research and development layout in China, and play a leading role in Pfizer's innovative drug development in China, promoting the efficient implementation of the China Al In strategy and including China in the early clinical stages of Pfizer's innovative drugs and vaccines, as well as the global synchronous development of all key Phase 3 studies.

At this CIIE, Pfizer also presented 24 innovative products and solutions with the theme of "Pfizer 35 China Beyond Yesterday to the Future", including 4 debut products. Pfizer has set an exciting goal of "triple the speed of innovation in China", striving to bring 60 innovative drugs and new indications to Chinese patients through accelerated innovation research and development in the decade from 2021 to 2030. Pfizer will work closely with the Chinese government and various sectors of society to accelerate research and development, promote innovation, improve the accessibility of emergency drugs and vaccines, and stand at the forefront of cancer treatment, helping China establish a strong and sustainable health innovation ecosystem, transforming scientific research into effective drugs, and providing assistance to cancer and other non communicable disease patients.
picture
Jean Christophe Pointeau, President of Pfizer China, Chairman of RDPAC Executive Committee, and Vice President of China Association of Foreign Investment Enterprises

When it comes to the reasons for laying out Pfizer China's 2030 strategy, Jean Christophe Pointeau pointed out: "2024 is bound to be a good year for the economy, and it is also a good opportunity for multinational companies to increase investment. China has introduced high-quality development policies to promote innovation and policies to encourage foreign investment, which is very encouraging. The potential of the Chinese market is huge. China has a population of about 1.4 billion, of which one in every four people is over 60 years old. Their demand for improving health is increasing, and their demand for breakthrough innovative products is also increasing. This is a huge opportunity.

At the same time, we have also seen policy improvements, such as significant progress in drug registration and marketing through scientific regulation policies, as well as significant improvements in drug accessibility and affordability. Other policies, such as encouraging high-quality development of innovation and relaxing policies on foreign investment introduction, are very positive and encouraging. Pfizer and many multinational companies are full of confidence in the Chinese market

In its first quarterly financial report released after a public confrontation with radical investor Starboard Value LP, Pfizer announced that its third quarter performance not only exceeded market expectations, but also pushed the company to raise its expectations for full year revenue and earnings per share for 2024. The financial report shows that the earnings per share under non GAAP reached $1.06, far higher than the expected $0.45, and revenue increased by 32.1% year-on-year to $17.7 billion. Based on this strong performance, Pfizer has raised its full year revenue forecast from $59.5 billion to $62.5 billion to $61 billion to $64 billion, and adjusted its diluted earnings per share forecast from $2.45 to $2.65 to $2.75 to $2.95.