On behalf of the board (the “Board”) of directors (the “Directors”) of Shanghai Fudan-Zhangjiang Bio- Pharmaceutical Co., Ltd. (the “Company”), I present the annual report of the Company together with its subsidiaries (collectively as the “Group”) for the year ended 31 December 2018 for consideration by the shareholders.
DEVELOPMENT CONCEPTS AND OBJECTIVE
With the ultimate goal to stay as an innovator and a leader in the bio-pharmaceutical industry, the Group has committed to exploring unmet needs and defi ciencies of clinical and patients treatment as well as developing novel and more effective treatments/medicines, so as to realize our mission that “The More We Explore, the Healthier Human Beings Will Be”.
Drug procurement with quantity in “4 + 7” cities which was a major milestone has been implemented under the background of pharmaceutical system reform this year. It changed the commercial foundation of the pharmaceutical industry which regarding the development of generic drugs and ME-TOO drugs as kinds of new drugs in the past few decades. In near future, China’s medicines will surely be back to the drug pricing model that is internationally accepted, in which prices of new drugs and generic drugs are separately determined. In other words, except those innovative drugs that have been proven specifi c clinical value, the commercial practice of competitive pricing model will be applied to other drugs, either generic drugs or METOO drugs. In future, we believe that the competition of pharmaceutical enterprises will be refl ected in innovation ability and production capacity.
Since its establishment, the Group, as a pharmaceutical enterprise based on drug research and development, has adhered to choosing the projects that can meet the unmet needs and defi ciencies of clinical and patients treatment. The evaluation system of the projects process depends on whether specifi c accomplishment of treatment will be achieved. Such non-commerce opportunities oriented projects-setting policy have brought huge diffi culties and challenges to us in the past in China. And the sluggish development of projects was frustrating and the situation that our continued effort cannot be turned into profi ts was not widely recognized. But we always believe that the real mission of pharmaceutical companies is to develop innovative drugs with clinical value, and Chinese pharmaceutical industry will put this into practice eventually. It was glad to see our mission was refl ected on the current changes in the industry. The products launched or under development of the Group have shown positive prospect and the characteristics of not affected by changes of policies. Our effort and strategies adopted over the years have laid a solid foundation and generated a driving force for the Group’s development in the new political environment. Only if we endeavor and continue to optimize our specifi c strategies for research and development: strengthening our research capacities in the fi elds where we have leading positions, continually expanding the new clinical indications, adhering to the projects worth spending time with, gradually applying for international drug registration and insisting on terminating the projects that are not in line with the Group’s value and make no progress for long term, our products will bring great benefi ts to the Company while refl ecting its value in the future.
On behalf of the board (the “Board”) of directors (the “Directors”) of Shanghai Fudan-Zhangjiang Bio- Pharmaceutical Co., Ltd. (the “Company”), I present the annual report of the Company together with its subsidiaries (collectively as the “Group”) for the year ended 31 December 2018 for consideration by the shareholders.
