Astrazeneca (AZ), an Anglo–Swedish multinationa biopharmaceutical company, announced in early February 2018 that it has signed partnerships with Chinese internet giant Alibaba and Tencent in the context of agreements that aim to use emerging technologies to improve healthcare delivery in China.
The company signed these deals on the occasion of British Prime Minister Theresa May’s first official visit to China. Pascal Soriot, CEO of AZ, was part of the business delegation accompanying the PM.
Agreements to explore AI and fight online sale of counterfeit drugs
- The strategic partnership set up with Ali Health (Alibaba) will leverage the expertise of the Chinese company in the field of internet and artificial intelligence (AI) to develop smart health services like patient education, chronic disease prevention and management, or AI-assisted clinical screening and diagnosis.
- The deal signed with Tencent aims to harness the power of big data to combat online sales of counterfeit drugs. Astrazeneca will contribute its medical know-how, while Tencent will use its social scenario-learning system to identify illegal drug sales.
The visit came about two months after the company turned its R&D center in China into a joint venture with a state-backed private equity fund.
China is AZ’s second largest market
« We have made encouraging progress across the main therapy areas and delivered strong growth in China, » said Mr Soriot in the company’s full-year 2017 announcement (source: Fiercepharma.com).
Last year, drug sales in the country increased by 30% at constant exchange rate for the fourth quarter, and by 15% for the entire year to a total of nearly US$3 billion (€2.4b). On the other hand, in Europe and the United States, they decreased by 16% and 7%, respectively.
China could become the 1st country to approve AZ’s drug roxadustat
- Some AZ’s major revenue drivers in the China include Iressa, a targeted treatment for people with EGFR mutation-positive non-small cell lung cancer (NSCLC). Its sales in China rose by 28% to US$144 million (€117m), largely boosted by expanded patient access through the inclusion on the country’s drug list covered by national insurance.
- Besides, treatment for asthma Symbicort and Pulmicort both delivered double-digit growth in the country.
- In addition, Tagrisso, a new Astrazenca drug indicated for the treatment of NSCLC, was launched in China in April 2017.
- AZ also expects China will become the first approval country for inhibitor roxadustat in the second half of 2018, contradicting common perception that the country lags in novel drug approvals.
AZ: 25 years of presence in China
The year 2018 marks the 25-year anniversary of AstraZeneca’s business in China. « As our second largest market, with supportive healthcare policies and increasing demand for innovative medicines, we see China playing a growing role in our global plans, » Pascal Soriot said in a statement.