Fosun Participates in the 3rd BEYOND Expo to Deepen Biotechnology Innovation and Global Development
HONG KONG SAR - Media OutReach - 12 May 2023 - On 10 May, themed on "Technology Redefined", the 3rd BEYOND International Science and Technology Innovation Expo – also known as BEYOND Expo 2023 kicked off at the Venetian Macau Convention and Exhibition Center.
This year is the third consecutive year that Fosun has participated in the Expo with the latest innovative achievements of Fosun Pharma and ecosystem enterprises in the Health segment, fully showcasing the latest R&D achievements under the strategy of "innovation-driven" and "global operation".
The Healthcare Summit, one of the three major sub-brands of the Expo, has attracted great attention. Fosun and Fosun Pharma, together with well-known domestic and foreign pharmaceutical companies, discussed pharmaceutical innovation, industry trends and solutions to global health challenges. Li Haifeng, Fosun Global Partner and Chairman of Fosun Foundation, was invited to the Expo as a guest at the Healthcare Summit Forum and in-depth exchanged with visiting guests and partners.
Li Haifeng said, "As an innovation-driven global consumer group rooted in China, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of one billion families in Health, Happiness and Wealth. Ecosystem enterprises in the Health segment, represented by Fosun Pharma, firmly implement the strategy of innovation and internationalization, accelerate innovation and transformation, and have achieved considerable development in the global clinical development and commercialization of innovative drugs."
In 2022, Fosun Pharma continued to increase R&D investment and achieved many breakthroughs; its revenue amounted to RMB43.952 billion, with a year-on-year growth of 12.66%. In particular, the core pharmaceutical manufacturing segment made outstanding contributions; the revenue of innovative drugs and biosimilar drugs (mainly products launched after 2019) exceeded RMB10 billion in 2022, marking a solid step in innovation and transformation.
Chinese innovation and global development in the field of biopharmaceuticals
In recent years, the R&D and launch of innovative drugs have ushered in a period of rapid development, and the proportion of innovative drugs has continued to increase. China encourages clinical value-oriented innovation and promotes the differentiation and globalization of R&D of local pharmaceutical companies.
In 2005, artesunate, an innovative drug self-developed and manufactured by Fosun Pharma in China, was pre-qualified by the World Health Organization (WHO-PQ), representing a breakthrough for Chinese self-developed innovative drug to go global. As the first Chinese pharmaceutical brand well recognized in Africa, Artesun® (artesunate for injection) has been used to treat over 56 million severe malaria patients worldwide and has provided more prevention and treatment options for children with malaria.
As of December 2022, Fosun Pharma had 30 antimalarial drugs prequalified by the WHO, ranking first in the world. It is also currently one of the world's largest antimalarial drug developers and manufacturers. Fosun Pharma has become a core supplier of antimalarial drugs to the Global Fund, the United Nations Children's Fund (UNICEF), WHO, and national drug procurement centers in Africa.
Li Haifeng said, "Fosun will further accelerate the R&D and transformation of innovative technologies and products, while shouldering the social responsibility of a global enterprise, actively expanding cooperation opportunities with global leading enterprises, and jointly contributing to major global medical issues and public health."
International forward-looking layout in the field of biopharmaceuticals to serve Chinese patients
With regards to serving Chinese patients with cutting-edge technologies in the global pharmaceutical industry, Li Haifeng said that, "Fosun Kite, a key enterprise specializing in cell therapy in Fosun's Health segment, has introduced the world's cutting-edge CAR-T technology to China, bringing hope of a cure to advanced lymphoma patients with only 5-6 months of survival. This is also the original intention and mission of Fosun Kite when it started to deploy CAR-T six years ago."
In early 2017, Fosun Pharma and Kite Pharma of the United States decided to establish a joint venture, Fosun Kite, focusing on the R&D and industrialization of CAR-T cell therapy in the Chinese mainland. Four years later, Fosun Kite successfully launched Yikaida in the Chinese mainland in June 2021, which became the first cell therapy approved for launch in China. Since then, China's cancer treatment development has entered a new era.
In the past two years, Yikaida has been used to cure more than 400 patients, and nearly 60% of the patients achieved complete remission, with an objective remission rate of more than 80%. "After these patients were treated with Yikaida, they returned to their families and society normally. We are very excited and delighted by the recovery of each patient." Li Haifeng also expressed the hope to introduce Yikaida to Macau to benefit more patients.
Deeply cultivating Macau and joining hands with the Greater Bay Area to usher in the spring of the health industry
As the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) continues to improve in the national development strategy, Fosun has allocated more resources to support the development of the GBA. Under the guidance of the two national strategies of "Healthy China 2030" and "Digital China", after years of intensive industrial development, Fosun Health has owned and operated many general hospitals with brand and medical capability advantages in the Greater Bay Area, such as Foshan Fosun Chancheng Hospital, Shenzhen Hengsheng Hospital, Zhuhai Chancheng Hospital, and Guangzhou Xinshi Hospital. While deepening the layout, it has continuously promoted the online and offline integration of medical institutions and enhanced the regional medical and healthcare service model.
In addition, with the support of the Macau SAR government, Comirnaty (BNT162b2) and Comirnaty bivalent mRNA vaccines jointly developed by Fosun Pharma and BioNTech, a German biotechnology company have been approved as regularly imported vaccines in Macau SAR, covering both public and private markets. Fosun Health is also one of the first platforms in the Chinese mainland to provide one-stop vaccination service of the Comirnaty mRNA vaccines. Through the Fosun Health APP or mini program, Fosun Health provides services such as vaccine consultation, vaccine appointment, vaccination, and online consultation.
Li Haifeng said, "Macau is an important part of the development of the GBA. Fosun has always been very optimistic about the development potential of Macau. As an important hub and platform for the exchange and development between the Chinese mainland and Portuguese-speaking countries, Macau plays a pivotal role in economic, cultural, commercial and other sectors. Fosun has already established industrial presence in Portugal and Portuguese-speaking countries. In the future, Fosun will continue to deepen the development of various industries and conduct more businesses in Macau."
The 3rd BEYOND Expo is open to the public from 10 May to 12 May. Fosun Pharma, together with member enterprises in the pharmaceutical and healthcare services sectors, and Fosun Lead, an in-depth incubation platform, have set up a booth with a number of interactive activities in the Life Sciences Exhibition Area (Booth No. B28) at the Expo. During the Expo, shuttle services have been arranged to pick up and drop off visitors to receive Comirnaty vaccine at the Macau University of Science and Technology Hospital (University Hospital) COVID-19 vaccination center.
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