Pharmaceutical companies should avoid falling into "involutionary" competition
2024-08-16
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Recently, the price of a single shot of domestic HPV vaccine has dropped from more than 300 yuan to more than 20 yuan, which has aroused the market's concern about the "internal circulation" of prices in the vaccine industry.Under the price war, corporate development also faces challenges. On the one hand, product price cuts may not necessarily maintain market share; on the other hand, core product prices will shrink and profit returns will be affected, and there is uncertainty as to whether there will be funds to continue to invest in product research and development.In fact, not only in the commercial sales link, but also in the drug research and development in the fields of anti-tumor and weight loss, the market also has concerns about the crowded research and development of some varieties and the "internal volume" faced by products after they are launched on the market.Healthy competition is conducive to industrial development, but once an "involutionary" competition situation emerges, the commercial interests of enterprises and the healthy and sustainable development of the industry will inevitably be affected.In my opinion, pharmaceutical companies should consider development from a longer-term perspective and pay more attention to the clinical value and patient benefits brought by the products themselves, as well as the realization of future product commercialization goals.To this end, companies must continue to strengthen market research and judgment, and make judgments on future market prospects, market structure, and revenue returns as early as the start of R&D projects. Do not blindly follow the trend in R&D layout and production.In fact, the market has long anticipated and discussed the possibility of oversupply of some products. Taking tumor treatment as an example, PD-1 was once a hot spot in the innovative drug market. With the increase in entrants and products on the market, PD-1 has also become an extremely "involuted" track. Some companies have to stop losses and abandon product research and development in time because the returns are lower than expected. For companies, when they notice these voices, they should make quick judgments and correct them in time.China's pharmaceutical industry has already gone global, and "going overseas" has become an important path for the pharmaceutical industry to get out of the "involutionary" competition. By actively exploring the international market, pharmaceutical companies not only have the opportunity to explore a broader market, but also enhance their own brand international influence and technological innovation capabilities, laying a solid foundation for the long-term development of the company. At present, some pharmaceutical companies have carried out business cooperation in the countries and regions of the "Belt and Road" co-construction, and have further expanded the international market through localized production and the establishment of R&D centers.In addition, to prevent pharmaceutical companies from falling into "involutionary" competition, the guidance of policies, governments and industry organizations is also needed to prevent invalid competition. For example, anti-tumor drugs are a hot research and development field. As early as 2021, the Drug Evaluation Center of the National Medical Products Administration issued the "Guidelines for Clinical Research and Development of Anti-tumor Drugs Guided by Clinical Value" to guide drug research and development for differentiated innovation.In the future, competition in the pharmaceutical industry will not only be a competition of innovative technologies, but also a competition of development strategy choices. The author believes that by always maintaining market sensitivity, creating innovative products, and effectively exploring market paths, pharmaceutical companies can avoid falling into "involutionary" competition and are expected to stimulate stronger development momentum.
Image | ZCOOL Helo
Produced by | Zhou Wenrui
