Speaking to Sina Finance in Davos, NOVARTIS Global CEO Vas Narasimhan said he is optimistic about the global economy and the company's next steps, which are characterized by enormous business opportunities despite many challenges.

Vas said he was impressed by the continued upgrading and improvement of China's healthcare system. China is NOVARTIS' second-largest and fastest-growing market in the world.

Overall, I feel very optimistic," Wansheim said of his experience at Davos. One of the interesting things about Davos is that it brings together so many people who are passionate about improving the world, and so many new ideas in one place."

"As we know, we face many challenges, both in terms of the geopolitical situation and the global economy. But at the same time, I think there are also tremendous opportunities. We are gaining insights into how AI can impact many aspects of life and improve our productivity. At the same time, it's very exciting to see the progress we're making in fighting climate change and protecting the natural world."

Overall, he believes that the challenges of the current situation exist, but there are also great business opportunities in the risks.

The year 2023 is crucial for NOVARTIS. On October 4 last year, Sandoz, the generics and biosimilars unit from NOVARTIS, was officially listed on the SIX Swiss Exchange as an independent company. The listing signifies the successful spin-off of Sandoz from NOVARTIS, resulting in a 100% spin-off.

Commenting on this big 2023 event, Wansheim told Sina Finance that he was "very satisfied".

"We completed our transformational journey last year, reshaping NOVARTIS into a company focused on innovative medicines. Today, we are one of the largest pharmaceutical companies in the world, with excellent sales growth in 2023, which is expected to continue in 2024."

In the first nine months of last year, NOVARTIS maintained its high growth rate in China. Net sales increased by 12%, and growth reached 14% in the third quarter.Throughout 2023, NOVARTIS had eight new drugs and indications approved in China.Four new products and indications were included in the National Health Insurance Catalog (NHIC), and four products were successfully renewed for indications in the original catalog.

In response to the many challenges facing the global economy right now that could pose a challenge to the industry, Wansheim said he believes the healthcare industry is in strong demand, but still faces the problem of improving access to medicines in many countries and regions, including China.

He called on policymakers to invest more in innovative medicines and public health. "When you invest more in public health, the population will live longer, the economy will grow better, and the industry will grow better."

Speaking about how to balance drug accessibility and corporate profitability, Wansheim said, "We try to strike a balance between being technologically and technologically dominant and trying to deliver the next wave of innovations to patients; and on the other hand, we have to give more people access to these new products." He emphasized the dual responsibility of the corporate mission to deliver superior financial performance and to ensure that pharmaceutical products reach more patients, especially in low-income and low-middle-income countries.

"We operate in 108 countries and our goal is always to get medicines into the hands of as many patients as possible. While geopolitics may have an impact on this, our goal is always that the product reaches the patient. Through innovative medicines, we reach more than 275 million patients globally every year."

Meanwhile, NOVARTIS is the first pharmaceutical company to launch a sustainability bond linked to drug accessibility. Since 2017, NOVARTIS has had more than 30 drugs included in the National Health Insurance Catalog.

Speaking about the Chinese market, Wansheim said, "China is NOVARTIS' second largest market globally and one of our fastest growing markets." His high regard for the Chinese market is reflected in the continuous investment and cooperation, which fully demonstrates his confidence in the Chinese market.

"Impressed with the growth and improvement of the healthcare system in China," emphasized Wansheim.

"I recently visited Shanghai Zhongshan Hospital and experienced how the Chinese healthcare system has improved the quality of care provided to patients. This was unimaginable when I visited China 20 years ago. It is very impressive that China has the latest technology, and the ability to provide world-class healthcare. If this progress can be sustained, we will continue to see great benefits from public health in China."

"We believe that China has built an attractive ecosystem with tremendous opportunities in areas such as regulation of the healthcare industry and healthcare reform. In addition, we have invested in covering 1,000 county markets in China to really reach rural areas and ensure that local patients have access to NOVARTIS' innovative medicines."

"Our Phase III clinical trials have included China from the beginning, enabling simultaneous development. We have also recently announced plans to bring radioligand therapy, a novel treatment for cancer, to China, and we will be investing more than $600 million to set up a new manufacturing site in China for this purpose, which we hope will be ready for production in 2026. At the same time we will continue to invest in our plant in Changping, Beijing."

In recent years, a series of "combined punches" to speed up drug review and approval policies in China have made it possible to synchronize the registration and listing of new drugs both inside and outside the country. The number of innovative drugs approved in China has increased significantly in recent years, approaching the level of developed countries and regions. In the case of domestic clinical trial applications, the entire cycle from submission to approval used to take two years or more, but now it has been shortened to 60 working days. Synchronizing clinical development with the world has allowed China's drug development to truly catch the first wave of the global pace of innovation.

In fact, since 2022, NOVARTIS has achieved 100% synchronization with the world in the development of new drugs and new indications in China, and the current strategic direction is to achieve more than 90% synchronization with the world in the next three years as well for new drug and new indication registration applications.

Finally, for his Chinese counterparts and pharma industry leaders, Wansheim gave clear advice: "In our field, the key is to be able to innovate the next wave of technologies and capabilities. Whether it's artificial intelligence or the new technology platforms we're investing in including xRNA and cellular therapies, the need to stay ahead of the curve is essential for success in markets like China."

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