2020 Oct 15
"In 2020, the pharmaceutical industry has experienced a year of ups and downs. Under the double attack of national policies and the epidemic, some companies in the industry have been devastated. At the same time, many industry segments have ushered in unprecedented development potential. "
-- Director of Commercial of Pharma, Joe Hang
The rise of private pharmaceutical companies has squeezed the living space of foreign pharmaceutical companies
The impact of national policy regulation on the biomedical industry is disruptive. With the introduction of policies such as volume procurement and the two-invoice system, and the implementation of control measures, many sub-tracks have begun to actively or passively accelerate into the stage of transformation and integration. The living space of foreign pharmaceutical companies has been squeezed, and private pharmaceutical companies have entered the stage of rapid development.
Private medicine enterprises ushered in unprecedented good opportunities. On the one hand, private enterprises have improved the quality of drug research and development, and generic drug research and development has developed to the stage of both cost and efficacy. At the same time, domestic pharmaceutical enterprises have gradually laid out in the field of innovative drugs. In just a few years, with the joining of high-end talents and the implementation of investment, innovative drugs have reached a golden outbreak period.
Private pharmaceutical companies ushered in unprecedented favorable opportunities. On the one hand, private enterprises have made qualitative improvements in the quality of drug research and development, and the research and development of generic drugs has developed to a stage where both cost and drug efficacy are combined. At the same time, domestic pharmaceutical companies are gradually deploying in the field of innovative drugs. In just a few years, with the addition of high-end talents and the implementation of investment, innovative drugs have reached a golden outbreak period.
The working environment and corporate culture of emerging private pharmaceutical companies are gradually in line with Western biotech companies. The founders and management teams of biotech start-up companies usually have many years of learning and working backgrounds in Western countries such as the United States and Europe. They not only have internationalization Work background and vision, as well as rich scientific research and management experience of top pharmaceutical companies. Under their leadership, the corporate culture and salary structure of innovative pharmaceutical companies are often more open and inclusive. Based on this, high-end pharmaceutical talents are also gradually diverting to private enterprises.
At present, biomedicine has become the most gold-absorbing sector in the investment field. Only in the first half of 2020, 132 financing events have been completed. This vibrant market is about to burst into greater strength in the entry of national teams and capital.
The talent market is mixed with layoff and lack of people
In the process of reshuffling and survival of the fittest, many traditional foreign companies have lost considerable market share. They have to reduce their staff to reduce costs or adjust their marketing business by selling products, shrinking R&D pipelines, further revitalizing assets, optimizing resource allocation, Focus on core business and control operating risks.
The talent scramble for emerging biotech companies is in full swing. Product commercialization is a race against time, and talent is the leader in this race. The market share of private biotech companies has begun to decentralize, and private companies that have grown up in large and small numbers have sprung up to seize market opportunities, and the turnover rate of talents is therefore higher. At the same time, companies are also adjusting their business strategies more quickly and accelerating the pace of talent training.
The fast-paced development of the pharmaceutical industry means a large demand for talents. For the talents in the industry, a short-term job change may be exchanged for a job opportunity that replaces the temptation, but the more opportunities there are, the less impetuous it is. We cannot be short-sighted, and we must carefully evaluate the company, whether this product can provide development prospects and platforms. After the third batch of national centralized procurement came to an end a while ago, the entire market is shuffling. If the treatment field you are responsible for is subject to policies, it must be said that emerging biotechnology entrepreneurial companies deserve attention at all stages to lead the industry.
Joe Hang is the Director of Commercial of Pharma at CGP. He has been in the pharmaceutical industry for over 12 years. Joe is a serial Top Biller holder and has extensive team building and management experience. Joe and his team have focused on back-end positions in biotech companies, completing a number of successful C-level recruitment cases. This year, he and his team have overcome many of the challenges and delivered a strong performance, providing a strong pipeline of business talent for companies in the life sciences industry.