China's commitment to foster innovation and advance high-standard opening-up has provided global pharmaceutical companies with broader access to its vast consumer base, enabling them to introduce innovative medical solutions to the world's second-largest healthcare market, said the top executive of a global pharmaceutical company.

"We see China as a source of innovation, and the country has made tremendous strides in creating an ecosystem that empowers innovators," said Jean-Christophe Tellier, CEO of UCB, a multinational biopharmaceutical company.

"We also need a market that welcomes innovation, and I feel there is a strong willingness in China to recognize innovation," Tellier said.

According to the Government Work Report released earlier this month, China's policymakers have vowed to "improve pricing mechanisms for medicines and draw up a medical insurance catalog for innovative drugs to support their development."

"We are in a very long cycle between the first idea of the medicine and the ability for patients to be treated, usually spanning 10-15 years," Tellier said. "Innovation is something very fragile that requires long-term investment and takes big risks."

To support its innovative endeavors, UCB has dedicated a significant portion of its revenue to research and development, with the figure reaching 29 percent last year — well above the industry average of around 18 percent, Tellier said.

Innovation, meaning being able to bring to the market differentiated products, is the key to sustained success in the pharmaceutical industry, Tellier said.

More importantly, UCB has been trying to gain "a deeper and stronger understanding of patients and how they relate to human biology", thereby translating into differentiated medicine, Tellier added.

The Chinese government has announced plans to establish a new drug category within the basic medical insurance system, focused on highly innovative, clinically valuable, and patient-centric medications, Huang Xinyu, an official of the National Healthcare Security Administration (NHSA), said at a news conference in January.

UCB has integrated China into its strategic clinical development by default over the past five years, and thus the time gap between the launch of novel medicines in China and the United States has been significantly shortened. For example, Bimzelx, an immunological drug, was introduced in China within one year of its launch in the United States.

"We want to ensure that our strategy and portfolio in China are in line with the approach taken in other significant markets," Tellier said.

China's pharmaceutical industry is witnessing a growing appetite for innovative drugs, as the government continues to implement policies and measures aimed at ensuring Chinese patients can benefit from the latest medical advancements, said Tellier.

The updated medical insurance drug catalog in 2024 has seen the highest-ever inclusion of innovative pharmaceutical products, with 38 out of the 91 newly added medications being innovative drugs, according to the NHSA.

In particular, China is experiencing rapid population aging, with projections indicating that by 2035, over 400 million people, or more than 30 percent of the population, will be aged 60 or over. This shifting demographic will create more medical needs for conditions such as Alzheimer's and Parkinson's, according to Tellier.

Patients can reduce their symptoms with the aid of the current medicines. However, the drugs don't have the power to change how these illnesses develop, said Tellier.

UCB currently has products in the pipeline that are being developed for both Alzheimer's and Parkinson's diseases, and is exploring the possibility of moving beyond symptom control and into the realm of disease modification, according to Tellier.

"Our dedication to serving patients with unmet needs in China remains steadfast. Building on our 29-year presence in the country, we are committed to driving patient outcomes through continued collaboration with local partners and fostering innovation," Tellier said.