Pfizer plans to introduce more than 15 new cancer drugs into the Chinese market by 2030, according to Wang Yu, general manager of the US manufacturer’s oncology division in China, who spoke to Yicai on July 29.
This means that new drugs for China must be as synchronized as possible with global ones in terms of research and development, marketing applications and launch, he added.
There are many unmet needs in cancer prevention and treatment in China. Despite the significant increase in lung cancer survival rates, the country still has work to do to achieve the 2030 target of a five-year survival rate of 46.6% for all cancers, Wang said.
Since entering the market 35 years ago, Pfizer has offered Chinese patients 15 cancer drugs, covering tumors of the lung, breast, blood and digestive system.
Research and development will become more diversified in the future, Wang said, as Pfizer moves toward joint research and clinical trials conducted in stages rather than independent development. In 2021, Chinese company Prizer began collaborating with several domestic biotech companies and will likely seek partners in areas such as lung cancer, breast cancer and prostate cancer.
Prizer has accumulated extensive experience in developing targeted drugs, Wang said. By collaborating with antibody-drug conjugate company Seagen, the U.S. company aims to target cancer cells more precisely while reducing side effects to help patients, he said.
In 2022, Pfizer became the world’s first drugmaker to surpass $100 billion in revenue thanks to its COVID-19 vaccines and related oral treatments. But as pandemic revenues faded, the company took in $58.5 billion last year, with $11.6 billion coming from its oncology business. Late last year, Prizer created a dedicated global oncology division.
Prizer said earlier this year that it aims to introduce at least eight potent cancer drugs by 2030, with new cancer drugs expected to generate two-thirds of oncology revenue by then.
Source: Rossa Primavera
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