Fosun Pharma’s Drive Beyond China
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What is Fosun Pharma's strategy for global expansion?
Hello and welcome. This is The Michelle Hussein Show. I'm Michelle Hussein. I speak with people like Elon Musk. I think I've done enough. And Shonda Rhimes. That's so cute. This will be a place where every weekend you can count on one essential conversation to help make sense of the world. So please join me, listen and subscribe to The Michelle Hussein Show from Bloomberg Weekend, wherever you get your podcasts. You certainly ask interesting questions.
Welcome to another episode of Bloomberg Intelligence, Vanguards of Healthcare podcast, where we speak with the leaders at the forefront of change in the healthcare industry. My name is Sam Fazelli, and I'm a senior pharmaceuticals analyst at Bloomberg Intelligence, the in-house research arm of Bloomberg. I'm thrilled to welcome Dr. Xingli Wang, co-president of Fosun Pharma, the parent company of Henleus. He also serves as CEO of the Global R&D Center of Fosun Pharma, where he leads programs spanning from early development right up to a late stage development for NDA submissions. Dr. Wang is a physician with a strong academic background in China, Australia, and the US. So I wanted to just give you everybody, our listeners, a little data set for the companies that Xing Li is involved in.
So Fosun Pharma has been independently listed in the Hong Kong Stock Exchange since 2013. Market cap currently is around $10 billion. revenues of around $5.7 billion in 2024. And performance has been very strong, 70% in the past 12 months in terms of share price. The company also has a meaningful shareholding in Henleus, which has been listed on HK index, Hong Kong index since 2019. Market cap just shy of $5 billion and 2024 revenues of $795 million. Now, Helios has significantly outperformed the HS Bio, the Hong Kong Hang Seng Bio Index, and is up 300% in the past 12 months versus the 70% for the index itself, which is quite a wonderful thing to see. We will get to talk a little bit about the performance of the China biotech sector.
But without further ado, I want to welcome Xing Li to the podcast. And maybe if I could ask you to just tell us a little bit about your own history. What's your background? What brought you to sit in the seat that I see you sitting in right now?
Sure. Thank you very much, Sam. And I really appreciate you giving me the opportunity to talk with you about Fusong and about myself. I started my clinical training in Australia, Sydney, Australia, and then ended up as a cardiologist. That's where I also started my academic career in cardiovascular medicine. And then by 1999, I went to Baylor College of Medicine and continued on my academic career. career pursuit until I became a professor and running the cardiovascular research in cardiothoracic surgery, mainly in the coronary disease and as well as aortic disease as well. And by 2008, I joined the industrial career by joining Sherwin-Plough and then shifted to Merck and then gone to Novartis. in New Jersey, and most of this time were on the cardiovascular late-stage trials, mostly chronic disease and anticoagulations and all these aspects.
And by 2019, I was on international assignment, came over to China, really for that to develop the global strategy for Novirates to try to make China as part of the global strategic development center and mainly in the clinical aspect. So I was as an R&D head in China for Nomaratus until 2022. So at that time, my international assignment started to expire and I was at the crossroad to either return to U.S. or stay in China for a few more years to really experience or explore how the Chinese pharmaceutical companies are really working on. So at that time, I had chosen Fusang Pharma because it's one of the most globalized pharmaceutical companies, I see from most of the Chinese pharmaceutical companies.
And so I started my career in Fusun Pharma from the January of 2023. And my responsibilities is really to oversee or running the in-office medicine business unit as well as directly running the global R&D center to keep the whole thing going.
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Chapters
5 chapters
1
What is Fosun Pharma's strategy for global expansion?
0:00–9:33
2
How is Fosun Pharma shifting from generics to innovative medicines?
9:33–14:59
3
What role does oncology play in Fosun Pharma's R&D focus?
14:59–26:46
4
How does Fosun Pharma's business structure support its growth?
26:46–42:47
5
What are the challenges and opportunities for Chinese biotech firms?
42:47–50:32
Speakers
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