Thinking globally, acting locally
Why BeiGene’s Pfizer hire indicates the China market is ready for innovator drugs
BeiGene Ltd.’s hire of Pfizer Inc. veteran Xiaobing Wu is one of the loudest signals to date that regulatory and reimbursement reforms have made it attractive to develop and commercialize innovative drugs in China. Wu’s extensive network and market access expertise should help BeiGene make the most of the new opportunity.
Wu joins BeiGene as general manager of China and president, after serving since 2004 in a similar capacity at Pfizer, and before that at Wyeth, which Pfizer acquired in 2009. In his last position as country manager at Pfizer China and regional president of Pfizer Essential Health for greater China, he oversaw Pfizer’s operations and portfolio, and conducted projects and partnerships to facilitate patient access to medicines.
Under his watch, Pfizer became the number one multinational pharma in China by sales.
CEO John Oyler said Wu will guide BeiGene as it scales up in China, which it sees