Teva plans innovative medical products to expand presence in China

Teva Pharmaceuticals, the world's largest generic medicine company, is training sights on China as one of its 'most relevant growth engines" in the coming years, according to the company's senior executives.

"We have high expectations…to bring innovation to Chinese patients with our second specialty product launch. Our diverse portfolio, combining specialty and complex generics…that could really bring some differentiation and value to China," Mario Madeira, Teva's Asia-Pacific cluster head, said.

Albeit being a relatively new entrant to the Chinese market, Madeira said the company is looking to "have a significant number of new launches in the coming years."

His announcement came as one innovative medicine treating chorea associated with Huntington's disease and tardive dyskinesia received approval from the National Medical Products Administration in May.

This was in part thanks to the Chinese government's enhanced efforts to reduce drug approval timelines in a bid to speed up the goals set out in the Health China 2030 Initiative, Larry Merizalde, China general manager at Teva Pharmaceuticals, said.

"The difference in China compared with many other markets is the ability for the government to executive initiatives well in a short period of time," Merizalde said. "We strongly support the government's vision of improving the access and affordability of innovative drugs to the Chinese people."

With the National Reimbursement Drug List now released on a more regular basis, Teva will work in tandem with the government to make sure processes are in place to make its offerings included in the list.

In China, Teva adopts a clear "3-3-3" strategy, meaning a focus on three therapeutically areas, namely central nervous system, respiratory conditions and oncology; three portfolio segments that range from innovative, complex generics and selective generics, as well as three big cities-Beijing, Shanghai and Guangzhou-for early-phase penetration in the country.

"China still remains a hospital-driven market. So the most effective way to engage at the early stage is to focus on big cities and big hospitals, at the early stages of our market entry" Merizalde noted.

But the nation also serves as a testbed for some of the most pioneering digital experiments. Teva sees exciting opportunities in online prescriptions, consultation to reimbursement, to the digitalization capabilities to support product commercialization and customer management.

"These will help increase our presence, expand product portfolio, and explore how to further the market…which is in accordance with our long-term growth strategy," Madeira said.