Dr. Xingli Wang

Biosimilars are different.

They are proven.

They're proven by the original drug.

But obviously, a biosimilar in China at the time when Penlius started, it was still as the first ever biosimilar in China.

So it was new in China, but not new globally.

That's how we, as a grand scheme concept, to start small as part of the overall build up.

The same thing as we start as a small company and then was absorbed into the headquarter, becoming part of the headquarter activities.

But otherwise we started with a small startup as well.

At the same time, as you know, we also have our CAR T therapy.

That was by joint venture with the Gilead Kite.

And again, it's a learning process.

We knew what we do not know.

So with that reason, we using subsidiaries kind of strategy to mitigate the risk of unknowns

At the same time, a gradual buildup.

When it's becoming matured, we will try to absorb in.

Like last year, you must know we tried to privatize Henleus.

Obviously, it was not very successful in that way, but that's a part of the strategy.

Same we talk about going global.

I mean, obviously, in the current world of relatively unstable environment, what we do, you know, reflected as our DNA, is start on the safe ground.

And we start with Bosimler again in our global trip by collaborating with local players with licensing to them or co-marketing with them.