Well into its $100 million plan to grow a sizeable R&D program in Beijing as it works to boost the ranks of its Chinese scientists to 200, Novo Nordisk ($NVO) senior execs told China Daily that their strategy to build a presence in the country is centered squarely on developing innovative new therapeutics. And that means they'll continue to steer clear of any big acquisitions in the growing Asian market.
"Novo Nordisk is another kind of company. We want to concentrate on innovative new drugs," Ronald Frank Christie, senior vice-president of Novo Nordisk and president of Novo Nordisk (China) Pharmaceuticals, tells China Daily. "We are not interested in bringing in generic (products). We are only interested in bringing new drugs to the market, to make a difference." The company's Beijing R&D plan represents its biggest research effort outside of Europe.
Recent market research indicates that the fast-growing number of diabetics in the country will help feed Novo's growth plans. The International Market Analysis Research and Consulting Group has estimated that the market for diabetes therapeutics will grow from $642 million to $2.8 billion in 2015. Novo Nordisk also plans to expand its manufacturing base in the country as it relies on new education programs with doctors and patients to boost demand for its products.
- here's the story from China Daily