ALBUQUERQUE, New Mexico (January 5, 2017) – As thousands of life sciences executives and investors descend on San Francisco for the 35th Annual J.P. Morgan Healthcare Conference next week, PaizaBio has a simple message: China, the world’s second largest pharmaceutical market, is open for business.
This promises to be a pivotal year for China. In late 2015 and early 2016, the country’s FDA announced sweeping reforms designed to accelerate commercialization of innovative drugs in China and allow the use of contract manufacturing organizations to facilitate this. Now being implemented, the new CFDA policies have created opportunities – and obstacles – for western multinational corporations (MNCs) that want access to China’s 1.4 billion consumers.
“The Chinese carefully crafted these new policies to attract MNCs, but also to ensure MNCs play by a new set of rules requiring manufacture of innovative drugs in China,” explains Stuart Rose, CEO and founder of PaizaBio, a contract manufacturing organization (CMO) of sterile injectables in Hangzhou, China. “When combined with China’s desire to make modern drugs more accessible and affordable to all of its citizens, there is tremendous opportunity for well positioned, informed MNCs.”
PaizaBio is focused on providing CMO services to the global biopharm industry and Chinese innovator companies run by “Sea Turtles,” the term for Chinese nationals educated in the West who worked in the pharmaceutical and biotech industries before returning to China. PaizaBio’s sophisticated fill-and-finish and lyophilization operations are on par with the West, highly automated and following cGMP standards.
In late 2016, PaizaBio announced plans to increase annual capacity from 300 million units to 400 million units of vials, pre-filled syringes and cartridges to accommodate demand. Rose says the company now has its eyes on larger stakes, hence the trip to San Francisco, January 9-13, during J.P. Morgan.
“China represents the largest growth opportunity the pharmacy industry has ever seen. PaizaBio has a strong presence, which we plan to grow with the right partners,” Rose said.
Connect with PaizaBio at the J.P. Morgan Healthcare Conference by contacting Stuart Rose at firstname.lastname@example.org or David Deere at email@example.com