Lundbeck increases focus on Chinese market

Source:Global Times Published: 2015-8-13 18:38:01

Søren Kjeld Kristensen, the general manager of Lundbeck Chinese mainland and Hong Kong Photo: Courtesy of Lundbeck

The Danish international pharmaceutical company Lundbeck welcomed its 100th anniversary this month. The company is renowned for its research, innovation and production of drugs to treat disorders in the central nervous system (CNS) not only in Denmark, but also around the world. As one of the top 50 pharmaceutical companies in the world and the only international company that specializes in producing CNS drugs, Lundbeck is turning to the Chinese market, which is in need of its services.

Søren Kjeld Kristensen, the general manager of Lundbeck Chinese mainland and Hong Kong, said that through their "Chinese Neurology & Psychiatry Disease Week," which took place in Beijing in June, Lundbeck has brought high-quality medicine and services to Chinese patients. He added that they will continue to devote their efforts to developing China's market of the diagnosis and treatment of CNS diseases.

There are currently more than 200 million people suffering from CNS disorders in China, making the nation the fastest growing market in the world for drugs for neurological conditions, according to a report by the Chinese Center for Disease Control and Prevention.

According to Kristensen, developing and commercializing new and creative drugs for treating CNS disorders has always been Lundbeck's focus. Their wish is to become the drug manufacturer that offers the greatest aid for CNS disorders in China, said Kristensen.

Lundbeck's medical products first entered China in 1996, and Lundbeck established their China headquarters in Beijing in 2003. In 2011, the company built their first research and development center in Asia in Shanghai, and Lundbeck's first factory in Asia was established in Tianjin in 2012.

The size of China's market of the diagnosis and treatment of CNS diseases reached 23 billion yuan ($3.5 billion) in 2012, and this number will exceed 100 billion by 2020, according to a report by IMS Health, a healthcare information and technology services company.

The report also said that by June 2015, the size of the CNS disease market in China increased by 30 percent compared to the same period last year and is still rising much faster than the international market.

In the face of a growing market, Kristensen said in a media report that they need a cooperative partner for a wider range of business coverage because the Chinese market is very complicated and diverse. He said that currently, 50 percent of the company's global revenue is generated through cooperation with business partners and there would be the same expectation when it comes to China.

Posted in: Press Release, Enterprise

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