Biotech meditation

In "Biotech's New Decade", the Rubik's Cube, based on interviews and research on eight outstanding innovative pharmaceutical companies in China, summarizes their core success factors and offers some hope for their future development.
the author believes that if investors are willing to give this Group Biotech sufficient time and trust, most of them have the potential to grow into Pharma.
Recently, a self-media article entitled "Rivers and lakes are the world of humanity" circulated both inside and outside the circle, using the skilled spring and autumn pen method to the founding background, products and cooperation of Junshi biological a series of vital enterprise development events carried out insinuations of doubt.
evening, Junshi Bio also received the Shanghai Stock Exchange in response to media questions issued a letter of inquiry.
And do not talk about these disputes and questions are accurate and what is the motivation behind it, do business as a child, the so-called gold-footed red people are endless, no matter what industry, even the development of imaging Huawei this size of the enterprise, will inevitably be subject to a lot of controversy and doubt from the outside world, not to mention the faltering Biotech company, before such as Baili Shenzhou, Kingsley and other star companies have not been shorted? The policy, capital and talent environment challenges faced by biotech companies, which have been in business for nearly a decade, are naturally not the same as they are today.
the first Biotech companies completed a 0-1 build-up compared to the once-booming but dead start-ups of the same period, and it's not easy to get to where it is today.
at the same time, we must not think ahead of time, Biotech from 1 to ∞ journey, and what new problems will face even the Black Swan incident? Are they psychologically prepared and coping? This paper puts forward a few points of thinking about throwing bricks and jade, welcome to add exchanges.
(1) How do you make fast follow a best in class? The process of modernization of China's pharmaceutical industry is nearly a hundred years later than that of western countries, and there are some innations in the pharmaceutical industry itself.
Although everyone shouts "innovation" every day, it is still rare to be driven by the weakness of basic research in our country, driven entirely from the technical bottom (such as targets or mechanisms).
with a small number of companies, most companies are still doing fast follow-up work.
-scale follow-up innovation not only brings homogenized competition, but also makes it more difficult to make me too into a me better or even a best in class.
In the past, when information was opaque, late adopters could speak out about themselves as me better or even best in class by making only a few adjustments to a previous technical point, or by obtaining more beautiful-looking data through more rational clinical trial design.
biotech's valuation logic at that time was mostly calculated at the single drug (a milestone) value of the research and development pipeline.
, many Biotech companies have achieved the "small goal" of launching their first product and are slowly transforming Pharma.
Its products want to stand out among the many homogenized innovations, the enterprise to do the homework is obviously not only as in the past to talk about pre-clinical (animal experiment) data and a small amount of human clinical trial data can harvest a group of fans, but in the CMC, registration strategy, quality control, production capacity, market access and a series of "research and marketing" links, have established their own long board, may not be circled inside and outside the "hanging", it is possible to put the fast practice into a veritable
(2) How to break the kettle to do a real "internationalization"? In recent years, innovation and internationalization have become two must-talk points when biotech is valuable, especially in internationalization, resulting in many propaganda techniques such as "rooting in China, serving the world", "based on China, looking at the world" and so on.
, there are very few innovative drugs that really go out.
the reason is not that these Biotechs don't want to go out, but that most of them lie outside the window and look out of the window, or look left and right, find it difficult, difficult, hard... Therefore, the situation of INDs in China and the United States is quite common, real money to phase III clinical seeking approval for listing is very few.
after all, internationalization is not only a huge cost, but also influenced by Chinese and Western culture, how to build trust in Chinese pharmaceuticals from the outside public may be more difficult than paying for things several times.
hesitating, anxious, wandering, watching as he walks.
the end, is the lack of the bottom of the boat, of course, part of it may also come from the board of directors interference, think that the enterprise capacity is not enough to go out, the slogan is just shouted to the outside people to listen to.
of course, there are some enterprises have tried water.
such as BTK inhibitor Zebtini in the state of Baiji, there may still be some challenges to how to "positively" a foreign market with Johnson and Johnson's Ibdini.
Other Biotech might think that companies with international genes like Baiji Shenzhou, the road to internationalization is so difficult, I'd better wait and see, or first pull a group of people overseas to do clinical trials, come back to tell a story is OK.
(3) How do you build a complete talent ladder and retain innovative talent? The opening of capital market financing channels such as HKEx and Kotsem board has given full financial support to unprofitable Biotech, and for Biotech, which has already listed on the IPO, the lack of capital is no longer the number one issue they face.
army is easy to get, one will be difficult to find, how to attract or train talent has become a mountain in front of many Biotech.
With the accelerated pace of socialization and employees face rising housing prices, family and child-rearing and other aspects of survival pressure, up to VP, down to the grass-roots staff, the frequent flow of talent in the industry has been an indisputable fact.
is not a bad thing in itself, it is a fuel booster that stimulates the vitality of the industry.
, especially for multinational pharmaceutical companies that have established a sound system, the impact of frequent brain drain on enterprises is almost negligible.
But for Biotech, where employees can stay for two or three years, and a drug development is less than six or seven years and more than a decade, and various systems have not yet been fully established, a project in the middle of a few waves of intermittent change of people, how to ensure quality? Because even in Biotech abroad, there have been many cases of staying in a company for more than a decade or even decades, and even some of them have been acquired or bankrupted in a Biotech company.
, not to say that the grass-roots staff, that is, the founding team to accompany the company to the end of the phenomenon is quite rare.
on the other hand, the so-called establishment of a sound talent ladder, not only refers to professionals from research, production and marketing, but also to ensure the orderly operation of the company's management (non-business units) of the "ghost talent", so that they use the integration of cultural history, management and other diversified knowledge and managers' vision to promote the operation of enterprises, including how to accurately and timely to non-medical professionals to convey the company's philosophy, popularly tell the story behind the product.
conclusion of a person's fate, not only to consider the struggle of the individual, but also to consider the process of history, the fate of enterprises is the same.
Biotech, a Chinese innovative drug, has erred from the spark of the past to the current trend, largely because of the opportunities given by the times, rather than being driven by a few people and several companies.
But a new era of innovative drugs in China has opened, and Biotech, while enjoying the dividends of the times, must always think about whether the crisis in the process of enterprise development stems from external doubts or internal challenges. In the face of non-professional media challenges to benchmarking companies, do we have a stronger response than to deny questions with our expertise? Outside doubts about Biotech, perhaps can also be seen as a kind of supervision, a spur, our Biotech company has a vision to stand on the world stage, although far from but blocked and long, let's refuel together.