Top executives weigh in at CIIE
A1: This year will be our fourth CIIE. Novartis was among the first group of multinational pharmaceutical companies to endorse and participate in the inaugural CIIE, and we have found it to be an important and unique platform to showcase our latest medicines and innovations, accelerate connections with the industry and explore partnerships within the industry and across industries.
I am excited about the growing "spillover effect" of opportunities coming out of CIIE and believe this will help further accelerate the introduction of innovative drugs to China, as well as help address healthcare challenges by working with partners in the healthcare ecosystem.
A2: Of course. CIIE is a fantastic opportunity for China to continue to showcase the dynamic development that is taking place across China and across China's economy. Additionally, China further demonstrated its ability to manage COVID and maintain a steady economy and operate as close to normal as possible given the challenging circumstances. CIIE should also be viewed through the lens of connecting stakeholders who collectively contribute to China's business environment and further facilitate international exchange, all of which contribute to global trade.
A3: It is difficult to comprehend the disruption we all felt throughout 2020 and 2021. COVID-19, as well as trade frictions and related issues, have added to complexity and uncertainty around the world. It is important for countries to work together to bring dialogue and cooperation so the world can collectively emerge from the COVID period. I believe China is playing an important role in this regard, including supply of vaccines around the world, increasing imports and building a consumption-centered economy. I think this will have far-reaching implications for the global economy in the years to come.
A4: China is now the world's second-largest pharmaceutical market, and the largest market by volume. Given the huge unmet healthcare needs, accelerated regulatory reforms in drug reviews and approvals and the increasingly pro-innovation market environment, I am excited about the China market and believe it will be an increasingly promising market for innovation-focused companies like Novartis.
At Novartis, we are working hard to bring innovative medicines and advanced therapies to the China market and expect to have as many as 50 new drug submissions in five years. China is one of our most strategic markets and we hope it will become our second-largest market globally by 2024.
A5: I started learning Mandarin in the mid-1980s and have been lucky to spend a good majority of my life and career in China. It's been a privilege to have witnessed the tremendous changes in China in the past few decades. The government continues to demonstrate its strong commitment to further opening up China's economy, and is doing this in a way that is inclusive to all stakeholders. I am confident the business environment will continue to improve, and this will encourage companies to continue to formulate long-term investment strategies in the country.
A6: I first came to China in 1987 and have had the honor and pleasure to live and work in China every decade since. In this respect, I have witnessed in my lifetime the dramatic transformation of Chinese society, in just about every way imaginable. The policy reforms, transformation of the legal system, social infrastructure, and certainly the economy in and of itself. Perhaps the most important example of this is that China has eliminated severe poverty and pulled more than 750 million people out of poverty. This is an amazing accomplishment and I look forward to seeing what happens in the decades to come.
A7: The progress to date has been fantastic and has helped build a foundation from which China can truly build an innovation-centric society. Key to this is continued reform and opening-up, including further emphasis on creating the innovation ecosystem. Continuing to focus on improving quality of care for Chinese patients is critical, and working with industry to find new ways to expand access to innovation to help address pressing healthcare challenges will be key. Lastly, it is important that countries work together to find collaborative solutions to international challenges, and I believe China will play an important role in this regard.
A8: Unfortunately, in recent years, many parts of the world have been experiencing shifts toward more protectionist policies, and this has resulted in an escalation of misunderstanding and perhaps some level of breakdown of trust and cooperation. I think China's commitment to free trade and multilateralism is important and essential to encouraging other countries to return to policies of openness, engagement and freer trade to support the multilateral framework of international cooperation.
