VCBeat's Global Pharma Focus series: an in-depth look at multinational giants — innovation, strategy, and the China imperative

In the grand narrative of the global pharmaceutical industry, multinational pharmaceutical companies have always played a pivotal role—they are explorers at the forefront of science, shapers of market rules, and key participants in healthcare ecosystems across nations. From the FDA to the EMA and the NMPA, from mature markets to emerging ones, the strategic decisions of these companies not only determine their own fate but also profoundly impact the health and well-being of patients worldwide.

Within this landscape, the Chinese market has evolved from an "option" to a "necessity," and is now escalating into a "decisive battleground." Its unique policy environment, clinical demands, and innovation potential present multinational pharmaceutical companies with unprecedented opportunities and challenges.

VCBeat is set to launch Global Pharma Focus, a dedicated segment that examines the strategic dynamics of multinational pharmaceutical companies through a global lens.

The series will explore the high-level strategies of industry giants—such as how Pfizer navigates growth pressures beyond its COVID windfall, and how Johnson & Johnson restructures to sharpen its competitive edge. It will also zoom in on pivotal regional battles—from the nuanced pricing strategies in China's national drug reimbursement negotiations to the coopetition among Chinese, Japanese, and Korean innovators in the ADC field.

Moreover, it aims to address fundamental industry questions: As disruptive technologies like cell and gene therapies and GLP-1-based treatments advance, are the moats of patent-cliff-facing pharma multinationals being reinforced—or eroded?

Meanwhile, the China chapter undoubtedly forms a core dimension of this insight. Whether it's integrating China into global early-stage R&D systems, betting on the Chinese market with a "China-first" strategy, or the paradigm shift in partnerships between local Chinese biotechs and multinational pharma—from license-in to license-out—these cases all confirm that the strategy of multinational pharma in China has evolved from a "scale game" to an "innovation game."

Here, you will see: how MSD continues its "China miracle" with the HPV vaccine and Keytruda; how Novo Nordisk turns its blockbuster weight-loss drugs into long-term market advantages; and how giants like AstraZeneca and Roche build innovation ecosystems through business development collaborations.

This segment will document the strategic choices of industry leaders, analyze the progress of key pipeline assets, dissect commercialization strategies, decode the business logic behind local partnerships, and observe industry shifts under the interplay of policy and market dynamics. We will record the methodologies of successful players as well as the cautionary tales of those who stumbled—aiming to provide the industry with truly global-contextualized local insights. We will interpret China's opportunities from a worldwide perspective, evaluate corporate decisions from an industry height, and showcase how multinational pharma balances speed and patience, globalization and localization, scientific rigor and commercial wisdom in this vast market.

Change is here, the future has arrived. We look forward to witnessing it with you!

Explore the Global Pharma Focus series:

1. The strategic calculus behind Novo Nordisk's century of innovation