China’s financial markets are off to a rocky start in 2016, causing analysts to worry about the health of the world’s second largest economy and the potential negative knock-on effect that a protracted slowdown could have on emerging and developing economies.
Last Monday, The New York Times quoted Bob Browne, the chief investment officer at Northern Trust, on the impact of China’s financial gyrations. “A China hard landing is bad for capital markets, and we think the risk is uncomfortably high, higher than we would prefer. A sharp slowdown is not the likeliest outcome for China’s economy, but it remains a cause for worry among global investors.”
Despite China’s market gyrations, PaizaBio CEO and founder Stuart Rose remains bullish on China’s future, given that it is the world’s second largest market for drugs and is projected to surpass the United States as early as 2021. Additionally, policy changes announced by the cFDA in early December will fast-track new drug approval and allow in-country manufacturing by contract manufacturing organizations (CMOs) like PaizaBio also have Stu optimistic.
So optimistic that PaizaBio is moving ahead with plans to launch the Trans-Pacific Aseptic Institute of Training, a “sterile university” in China that will welcome its first class of students March 23-25. PaizaBio has partnered with Complya Asia on TPA-IT to facilitate the preparation of the highly technical workforce required to manufacture sterile injectable drugs to Western quality standards following cGMP.
PaizaBio has recruited experts Dr. Scott Wheelwright of Complya Asia and Anne Marie Dixon of Cleanroom Management to develop and teach TPA-IT’s world-class curriculum. The March session will be taught in English and will attract students from industry and government from China and beyond. Complete information on TPA-IT, pricing and registration can be found on our website.
Says Stu, “Despite recent fluctuations in China’s stock market, multi-national pharmaceutical companies can’t ignore China’s growth potential. With the cFDA radically changing policies related to drug innovation and commercialization, and in particular, opening the doors to contract manufacturing, Western pharma MUST look seriously at expanding manufacturing and sales in China. We anticipate that growth-oriented Western companies will expand in China – with PaizaBio’s help minimizing risk and accelerating a quick entry – increasing demand for an aseptic processing workforce prepared to Western regulatory and quality standards. Thanks to TPA-IT, we will have the highly technical workforce demanded to meet the growth plans in China of Western pharma.”