Bayer, Other Multinational Pharmaceutical Firms Latch Onto Wellness Trend at CIIE
Ge Hui
DATE:  4 hours ago
/ SOURCE:  Yicai
Bayer, Other Multinational Pharmaceutical Firms Latch Onto Wellness Trend at CIIE Bayer, Other Multinational Pharmaceutical Firms Latch Onto Wellness Trend at CIIE

(Yicai) Nov. 8 -- Bayer and other multinational pharmaceutical companies have brought a line up of health and wellness products to the ongoing China International Import Expo to meet growing demand for products that prevent disease and deliver a better quality of life as consumer trends in China evolve.

The German pharma giant is exhibiting several types of over-the-counter health tonics and nutritional supplements, such as Kangwang® Minoxidil Liniment for bald men at the expo, on top of its vast array of medicines.

China’s health and wellness product market is growing faster than the drug market and has developed into one of Bayer’s best businesses, said Li Xiaomeng, head of China research and development at the North Rhine-Westphalia-based firm's consumer health products division. This undoubtedly is a key field in which Bayer needs to step up investment, he added.

Young Chinese are putting more emphasis on the prevention and management of health conditions, and not just on treatment, said Wan Yanjing, who heads the e-commerce integrated consumer business department at Bayer's consumer health products division. They are willing to pay a premium for high-quality products and this a new consumption trend that Bayer is watching closely.

The US’ Gilead Sciences brought the clinical trial results of Lenacapavir, an infection prevention therapy for the human immunodeficiency virus, to the expo. The Foster City-based firm is linking arms with Hainan Boao Lecheng International Medical Tourism Pilot Zone, which adopts flexible new drug approval policies, to accelerate the drug's clinical trials so that it can benefit the groups that need it early.

“We are actively communicating with headquarters and are also looking forward to working with regulators to enable this preventive therapy that only requires two injections yearly to be introduced to China soon,” Jim Jin, general manager of Gilead China and vice president of Gilead Sciences, told Yicai. The company has already filed to take the drug to market in China and expects to get the green light by the middle of next year.

Editors: Tang Shihua, Kim Taylor

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Keywords:   New Market Sector,Over-the-Counter Drugs,Prophylaxis Drugs,Multinational Pharmaceutical Companies,CIIE