Novo Nordisk Confident in China’s Health Supply Chain

[Photo/China.com.cn]

At the second China International Supply Chain Expo (CISCE), companies have showcased their supply chain networks and cooperation. The CISCE is the world’s first national-level exhibition focusing on supply chains.

This year, China has launched a series of policies and measures to deepen opening-up in sectors such as and health care. In one example, Chinese authorities on Friday unveiled a plan to allow the establishment of wholly foreign-owned hospitals in some major cities, including Beijing and Tianjin, as well as the island province of Hainan, in a move to open up its medical sector further. In another, China has also made efforts to accelerate the approval of new drugs already on the overseas market.

At the expo, Danish pharmaceutical company Novo Nordisk showcased Wegovy, a weight-loss drug containing semaglutide as its key ingredient.

The drug has captured public attention as combating obesity is an issue of widespread concern. The drug is now available as a prescription medicine in hospitals and on multiple e-commerce platforms after entering the Chinese market in November this year.

“We are glad to participate in the expo and seek more suppliers in the health and life chain. We will continue to work with our partners, and better serve our Chinese patients,” said Christine Zhou, Novo Nordisk’s senior vice president and president of the China region.

The pharmaceutical giant has cooperated with Chinese companies to build a modern warehousing center in Shanghai, aiming to strengthen the reliability of the drug supply chain. It has also launched obesity education courses with the help of an online patient services platform.

The big health industry is characterized by wide coverage, a long industrial chain, spillover effects and strong agglomeration, among other features. It is among the world’s strategic emerging industries with great growth potential.

A report released by the China Consumers Association in August indicates that China’s big health industry will hit 9 trillion yuan (about 1.25 trillion U.S. dollars) in revenue this year. The industry, which covers medical and health products, nutritious food, medical and wellness devices, and health management and consultation, is projected to exceed 17 trillion yuan by 2025 and 29 trillion yuan by 2030.