China: A New Biopharma Model Emerging
Professor Richard Barker, founder of New Medicine Partners reflects on China’s very different approach to the biopharma industry. Napoleon once said: “China is a sleeping giant. Let her sleep, for…
Yangtze River Pharmaceutical Group is a Chinese multinational pharmaceutical corporation headquartered in Taizhou, Jiangsu Province in the People’s Republic of China, and with its research headquarters in Shanghai. It is one of the Asia’s largest pharmaceutical companies by revenues, and was listed in 2014 as being China’s second largest pharmaceutical manufacturer, and leading company for technological and entrepreneurial innovation.
Founded in 1971, the Yangtze River Pharmaceutical Group started as a local firm providing drugstores and hospitals with vitamin supplements and pain medication. For much of its early existence, profit margins were low due to the YRPG’s inability to expand a fledgeling sales network past a local level. This changed at the end of the 20th century when sweeping economic and medical reforms placed an ever-increasing demand on quality drug production.[5] Located in a prime location between the major cities of Shanghai, Suzhou, and Hangzhou, the YRPG quickly expanded its business profile. The group has experienced significant growth in the past decade, having quadrupled their net income between 2003-2010.[1] In the fiscal year 2014, board shareholders received a record 560% return on investment, and company assets rapidly expanded.[1] The company also hosts 22 subsidiary firms across Asia and has exploratory ventures in Europe, Canada, and the United States.
Professor Richard Barker, founder of New Medicine Partners reflects on China’s very different approach to the biopharma industry. Napoleon once said: “China is a sleeping giant. Let her sleep, for…
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