EY study Corona is changing the pharmaceutical industry

Status: June 21, 2021 3:53 p.m.

The corona pandemic did not give the pharmaceutical industry a boost in 2020, it actually slowed it down. According to an EY study, only cancer medicine and ophthalmology are booming.

by Notker Blechner, tagesschau.de

Is “Big Pharma” but not a beneficiary of the corona pandemic? The management consultants from EY (formerly Ernst & Young) are convinced: “The corona crisis was not a growth driver in the past year, on the contrary, it led to higher spending on research and development”, says Klaus Ort, head of EY’s Life Sciences & Healthcare market segment in German-speaking countries. “The pharmaceutical industry wasn’t a big winner from the pandemic.” In fact, sales of the world’s 21 largest pharmaceutical companies rose by just 4.4 percent in 2020. In the year before the pandemic, the increase was almost 13 percent. However, this was also due to a billion-dollar takeover in the industry.

Corona slowed growth

According to Ort, Corona led to delays in various treatments. Among other things, the fact that fewer operations were carried out in hospitals had a negative effect. This slowed down sales of the corresponding drugs and therapies. In the case of funds for heart and circulatory diseases, for example, revenues stagnated after having increased significantly in 2019. Sales of therapeutics for respiratory diseases even fell. Place refers to the wearing of face and nose masks as the reason, which also prevented infectious diseases such as flu.

Corona surge will not come until 2021

With sales of 26.4 billion euros, vaccines only made up a good five percent of total sales last year “Big Pharma” out. That should change in 2021. The US pharmaceutical giant Pfizer has already announced that the corona vaccine Comirnaty will flush a good 15 billion dollars into the coffers. That’s a good quarter of Pfizer’s total sales. “At Pfizer, Corona will only have an impact on sales in 2021″says EY expert Ort.

Pfizer partner BioNTech also expects an enormous growth spurt in new, unimagined dimensions this year. The Mainz corona vaccine pioneer expects sales of 9.8 billion euros for 2021 and should thus become the third largest German pharmaceutical manufacturer – behind Bayer and Boehringer.

766 Covid vaccines and therapeutics pending

EY was unable to quantify how high the market volume for combating corona is. However, the management consultants see huge potential. They refer to 260 vaccine candidates who are currently in studies. So far, only four vaccines have been approved. “The four big players dominate the market and will continue to do so”, predicts Alexander Nuyken, co-author of the study and head of life sciences transaction consulting at EY. Because of the increasing number of mutations, the hurdle for approval will become higher and higher in future.

EY has found out that 506 therapeutics are in the pipeline for drugs against Covid-19. However, no means of this have yet managed to obtain approval. “Despite all the vaccination euphoria, one should not lose sight of this fact”, warns EY expert Nuyken. People are still dying of Covid-19 due to a lack of medication. After all, the number of drug candidates has doubled since the end of 2020. And: 162 therapeutics are in the clinical phase III study. The most promising means is considered the cortisone drug dexamethasone . According to a large-scale study by Oxford University, it lowers the death rate of seriously ill Covid patients by at least 25 percent. In the initial phase of the corona disease, Remdesivir, which was the first Covid drug approved in Europe, also works – albeit only under certain conditions.

Price drop for corona tests

The EY experts see the market for corona tests as completely oversaturated. There are currently 1,021 diagnostic tests on the market, more than half of which are so-called immunassays (including rapid antigen tests). “We see a drop in prices here”says EY expert Nuyken. Individual drugstore and supermarket chains are now offering self-tests for 80 cents.

Thanks to Corona, the vaccine business has experienced a renaissance, emphasize the EY experts. The biotech sector in particular benefits. Due to new trends such as digitization as well as gene and cell therapies, it is on the threshold of further growth. According to EY, the German biotechs received more capital in 2020 than ever before.

Cancer medicine is the major growth driver

The main market for “Big Pharma” but oncology remains. In the fight against cancer, the industry has a turnover of over 200 billion euros, which is more than a third of the entire pharmaceutical business. In 2020, the world’s 21 largest pharmaceutical companies increased their sales in oncology by 14.6 percent. Experts are also predicting growth rates of ten percent for the coming years. Only ophthalmology promises similarly strong growth. Because of the trend towards home office in the pandemic, myopia increased in many people, especially children.

Biotech companies could provide a new boost in the cancer market. Amgen recently made a breakthrough in cancer therapy with Lumakras. For the first time, an active ingredient was approved that is directed against mutations in the KRAS gene. The KRAS mutations are one of the most common causes of pancreatic, colon and lung cancers. The mRNA technology that BioNTech and Moderna are successfully using in the fight against Corona also promises huge potential for cancer research.

Hope in the fight against Alzheimer’s

Biotech could also bring progress in the fight against Alzheimer’s. In early June, Biogen received “green light” for the active ingredient aducanumab . It is the first Alzheimer’s drug to receive FDA approval since 2003.

According to the study by EY, the Swiss Roche Group has maintained its top position in the ranking of the world’s largest pharmaceutical companies with 43.4 billion euros. AbbVie climbed to second place – just ahead of Johnson & Johnson and Merck & Co. Pfizer slipped to sixth place in the rankings. Due to the corona surge, the US pharmaceutical giant should regain the top spot in 2021

Corona vaccine study Novavax is 90 percent effective

Status: 14.06.2021 2:21 p.m. According to preliminary study data, the corona vaccine from the US pharmaceutical manufacturer Novavax is safe and highly effective – even with virus variants. The product raises great hopes, especially in developing countries. According to the US pharmaceutical company, the Novavax corona vaccine protects well against the virus and its variants. The company said that the vaccine was around 90 percent effective and, according to preliminary data from a study, safe. The vaccine effectiveness study involved nearly 30,000 people in the United States and Mexico. Two-thirds of them received two doses of the vaccine three weeks apart, all others received placebos. A total of 77 people were infected with the coronavirus, 14 of them in the group of those who were vaccinated. Of the participants who received the drug, none developed severe or moderate symptoms, while there were 14 in the comparison group without vaccination.

background 06/14/2021

No cases of blood clots or heart problems

The vaccine was similarly effective against several variants of the coronavirus, including the alpha variant first discovered in the UK, as well as in high-risk groups such as the elderly and people with pre-existing conditions. The side effects were similar to those of other vaccines and mainly concerned pain at the injection site. There have been no reports of blood clots or heart problems, said Novavax boss Stanley Erck. Novavax plans to publish the results in a medical journal where they will be reviewed by independent experts.

Vaccine important for developing countries

The company said that applications for approval would be submitted in the USA and Europe, among others, by the end of September. Until then, a production of 100 million cans per month is possible. Novavax’s vaccine is easy to transport and store, which is why it is expected to play an important role in vaccination campaigns in developing countries. “Many of our first doses will go to low- and middle-income countries, and that was the goal from the start,” said Erck. Novavax’s vaccine works in a similar way to flu vaccines. It is made with laboratory-grown copies of the spike protein that envelops the coronavirus. The immune system reacts to the proteins in the vaccine and is thus prepared when it is actually confronted with the virus. Other vaccines that are widely used today contain the genetic instructions for the body to make its own spike protein.

02.03.2021

Sales increase The chemical industry is raging

As of: 06/09/2021 3:54 p.m.

The third largest German branch of industry has reached the pre-crisis level again. After growth in the first quarter, the chemical industry raised its forecast for the year. The pharmaceutical business in particular is doing better than expected. Despite the rise in raw material prices and delivery problems, the German chemical industry continued on its growth path in the first three months of the year. As announced by the German Chemical Industry Association (VCI), the sector increased its sales by 1.1 percent to 51.3 billion euros compared to the same period in the previous year. Production increased by 0.8 percent. Compared to the fourth quarter of 2020, sales growth was even 3.6 percent.

Again above pre-crisis levels

With the sustained upward trend, the third largest German industrial sector – after the car and machine builders – has already compensated for the corona dent. Production and sales are now back above pre-crisis levels. Above all, exports to EU countries increased. In addition, there was the increasing demand from Asia. The chemical industry was also able to grow in the German home market – thanks to higher prices.

“Hope for a good year in chemistry”

VCI President Christian Kullmann, who is also the head of the chemical company Evonik, was delighted with the development. “The first few months give hope for a good year in chemistry,” he said. “The demand for chemicals and pharmaceuticals is increasing.” The industry association is now even more optimistic about the year as a whole. For 2021, the VCI predicts sales growth of eight percent and an increase in production of 4.5 percent. So far, a plus of five percent in sales and an increase of three percent in production had been forecast.

“The demand for chemicals and pharmaceuticals is increasing.” – VCI President Christian Kullmann Image: picture alliance / dpa

Price increases and corona vaccines as drivers

Strong price increases for the chemical and pharmaceutical products manufactured should make a significant contribution to this. The association is anticipating 3.5 percent higher prices for the year as a whole. The chemical industry is also benefiting from the corona vaccine boom. There are numerous suppliers for the vaccines from BioNTech, Moderna & Co, including Evonik and Wacker Chemie. You act as a technology supplier or as a contract manufacturer.

Worry about delivery bottlenecks

Only supply bottlenecks for materials and intermediate products are dampening the good mood in the chemical industry. “They are now affecting the operational processes of every second company,” warned VCI President Kullmann. However, the situation should ease again in the course of the year. In March, the blockade of the Suez Canal interrupted the supply chain from Asia in the chemical industry. Around 16 percent of chemical imports and 18 percent of exports take this route.

Huge green electricity demand for climate neutrality

In addition, the more stringent climate protection targets are making the industry difficult. “The way there remains in the fog”, said recently Wolfgang Große Entrup, General Manager of the VCI. “For the new goal, our industry needs more electricity than Germany currently consumes overall – as green electricity.” If the industry does not get competitive prices for electricity from renewable energies, it will not manage the energy transition. In spring 2020, the association presented a study in which it considers climate neutrality by 2050 to be technically feasible. For this, however, enormous additional amounts of green electricity are required. By the mid-2030s, the chemical industry’s electricity needs will increase more than tenfold. In addition, the electricity price would have to drop to four cents per kilowatt hour, demanded the VCI. The industry currently pays between eight and ten cents per kilowatt hour.

BASF is pushing ahead

VCI President Kullmann considers the renewed tightening of climate protection targets and the more rapid increase in CO2 prices called for by the Greens in their election manifesto as “irresponsible”. At the annual chemistry conference of the “Handelsblatt”, he warned that those who shackle the industry put the ax to their transformation. Good politics are based on incentives and not on bans. BASF is one of the first chemical companies to commit to reducing greenhouse gas emissions to zero on a fixed date. The people of Ludwigshafen want to become climate neutral by 2050. Among other things, one should help huge wind farm in the North Sea that BASF is planning together with RWE . The plant with a capacity of two gigawatts is to supply the Ludwigshafen chemical site with green electricity from 2030.

Image source: Visual China

Reporter | Fan Jiazhi Edit | Chen Feiya Reporter | Fan Jiazhi Edit | Chen Feiya A few days ago, the industry issued a “Notice on Reporting the Purchasing Data of the Fifth Batch of National Organizations for Centralized Procurement of Drugs” (hereinafter referred to as the “Notice”). The “Notice” shows that the fifth round of volume procurement involves a total of 60 varieties and 207 product specifications. Compared with the previous fourth batch of 45 products purchased in volume, the scope of drugs involved in this round of volume procurement has been further expanded, with the highest number of varieties and product specifications. After sorting out by the Jiemian News Research Department, drugs in dosage forms such as injections and inhalants will be the main varieties for the fifth round of centralized procurement. The catalogue of drugs to be collected mainly includes 30 injectables, as well as inhalants with relatively high technical barriers. If it finally enters centralized procurement, it will affect many listed companies such as Stellite (603520.SH), Joincare (600380.SH), Hengrui Medicine (600276.SH) and so on. The two major products of Stellite, the main construction contrast drug company,-iohexol injection and iodixanol injection, are included in this catalog, and will compete with Yangzijiang Pharmaceutical and other companies. According to data from Meinenet, the sales of iohexol and iodixanol both exceeded 2 billion yuan in 2019. For Stellite, these two products have been on the market for less than a year, which is bound to impact market confidence. Stellite was originally an API (API) supplier for the downstream enterprise of contrast agents. In 2012, Stellite established Shanghai Stellite Pharmaceutical Co., Ltd., officially launching the strategy of “Intermediate-API-Preparation”. In 2020, Stellite successively obtained registration approvals for iohexol injection and iodixanol injection, and officially entered the field of preparations. Joincare has two inhalation products into the catalog-budesonide inhalation and compound ipratropium bromide inhalation. It is expected that Chia Tai Tianqing, a subsidiary of China Biopharmaceutical (01177.HK), will participate in centralized procurement. These two products belong to the respiratory department and are suitable for chronic obstructive pulmonary disease (COPD) and tracheal spasm caused by airway obstruction. Inhalation preparation is a pharmaceutical dosage form in which the drug is dissolved or dispersed in a suitable medium, through a special drug delivery device, in the form of vapor or aerosol directly into the respiratory tract and delivered to the lungs for local or systemic treatment. Its advantage lies in reducing the dosage while improving the efficacy and reducing adverse reactions. Inhaled preparations are the drugs of choice for respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD).

Inhaled preparations have relatively high technical barriers, and have the characteristics of difficult research and development and high patent barriers. The domestic inhalation preparation market has long been monopolized by three multinational pharmaceutical companies, AstraZeneca (AZ), GlaxoSmithKline (GSK), and Boehringer Ingelheim (BI). The market generally expects that domestic generic drugs will quickly complete domestic substitution, and the fifth batch of centralized procurement may accelerate this process.

Hengrui Medicine’s anti-tumor line product docetaxel injection, anesthesia line product ropivacaine, gastroenterology product glycopyrrolate injection and other varieties are also included in this catalog. According to data from Yaozhi.com, the sales of docetaxel in 2018 reached 1.823 billion yuan, which is the highest-selling anti-tumor drug in China; Hengrui Pharmaceuticals docetaxel was approved for listing in 2002, with sales of 835 million yuan in 2018, with a market share Up to 45.82%.

Docetaxel is a traditional cytotoxic anti-tumor drug. “Traditional cytotoxic drugs-small molecule targeted drugs-biological drugs” is the future trend of the domestic oncology drug market. Docetaxel sales have begun to slowly decline from the peak. It is expected The fifth batch of centralized procurement will further accelerate this trend. Beginning in 2019, Hengrui Medicine also launched biologics such as carrelizumab (PD-1) to meet the market demand for anti-tumor drugs.

In addition, pharmaceutical companies such as Hisun Pharmaceutical (600267.SH), Kelun Pharmaceutical (002422.SZ), Lepu Medical (300003.SZ), and Xinlitai (002294.SZ) are also involved.

In addition to the above-mentioned domestic companies, AstraZeneca is the foreign-funded pharmaceutical company with the most variety of shortlisted products. Its subsidiaries include esomeprazole sodium for injection, budesonide suspension for inhalation, metoprolol tartrate, and sagrelide Many well-known varieties such as Ting were shortlisted, Sanofi’s two major tumor products oxaliplatin and docetaxel were shortlisted, Bayer’s core product anticoagulant Rivaroxaban was shortlisted, and Fresenius Kabi was shortlisted for multiple anesthetic varieties.

Unexpectedly, the fifth batch of centralized procurement does not cover the previously expected high-expected biological agents such as insulin and proprietary Chinese medicines. Different from traditional generic drugs, biological products and proprietary Chinese medicines are unable to carry out drug consistency evaluation due to their special composition, and relevant hypoglycemic drug companies can take a breather temporarily.

According to the timetable given in the document, the state-organized drug centralized procurement comprehensive service platform will complete the pre-purchasing volume of related drugs by medical institutions in various provinces and cities on April 30. It can be speculated that the fifth batch of centralized procurement will officially “start” around June this year.

On April 15, the State Administration for Market Regulation announced that it would impose administrative penalties on Yangzijiang Pharmaceutical Group Co., Ltd. (hereinafter referred to as “Yangzijiang Pharmaceutical”) for implementing a monopoly agreement, with a total fine of 764 million yuan.

According to investigations, from 2015 to 2019, Yangtze River Pharmaceuticals reached a fixed agreement with downstream companies such as drug wholesalers and retail pharmacies by signing cooperation agreements, issuing price adjustment letters, and oral notices across the country (excluding Hong Kong, Macao and Taiwan regions). The agreement on drug resale prices and the minimum resale price of drugs, and measures such as formulating implementation rules, strengthening assessment and supervision, penalizing low-price sales dealers, and entrusting intermediary agencies to monitor online drug prices to ensure the implementation of the agreement.

The State Administration of Market Supervision stated that the above-mentioned actions of Yangtze River Pharmaceutical Group ruled out and restricted competition, harmed the legitimate rights and interests of consumers and the public interest, and violated the relevant provisions of the Anti-Monopoly Law.

It takes pains to limit the price of medicines, and consumers will pay for it in the end

Specifically, Yangzi Pharmaceutical restricts the prices of drugs sold in retail pharmacies and distributors, including many best-selling products such as Lanqin Oral Liquid, Bailemian Capsules, and Astragalus Extract. These drugs are well-known and popular in people’s lives. Measured by sales revenue in 2019, Lanqin Oral Liquid ranked first in throat drugs, Astragalus extract ranked third in tonic drugs, and Bailemian Capsules ranked fourth in stabilized sleep drugs. These best-selling drugs are precisely the focus of Yangzijiang Pharmaceutical’s focus on price-fixing.

In order to supervise the sales staff and distributors to strictly implement the fixed and limited price policy, Yang Zijiang Pharmaceutical has taken great pains. Yang Zijiang Pharmaceutical has formulated a detailed price control system and dispatched sales personnel from various places to pharmacies to inspect and secretly visit drug prices. For drugs on Taobao, Tmall, and JD online platforms, Yangzijiang Pharmaceutical has hired a third-party intermediary company to supervise five key drugs (Lanqin Oral Liquid, Bailemian Capsules, Astragalus Extract, Epalrestat Tablets, Suhuang Cough tablets) online retail prices, and regularly submit online merchants’ price information monitoring and processing results to Yangzijiang Pharmaceutical.

If distributors at all levels, retail pharmacies, etc. do not comply, Yangzijiang Pharmaceutical will implement penalties such as deduction of bonuses, internal fines, out of stock, and suspension of reimbursement. At the same time, distributors and retail pharmacies have a certain degree of dependence on these best-selling products, and they have insufficient bargaining power for the fixed and limited price behavior of Yangzijiang Pharmaceutical.

Yang Zijiang Pharmaceutical’s fixed and limited price behavior seems to be divided from the interests of distributors and pharmacies at all levels, but in fact it raises the price of medicines, and consumers eventually pay for it. The economic analysis takes Shanghai as a sample and simulates the competitive retail prices of some drugs from Yangzijiang Pharmaceutical in 2018 and 2019, and compares them with the actual retail prices and hospital purchase prices in the same period. The results show that this behavior has caused significant drug prices. rise. Statistical analysis shows that the retail channel ex-factory price of Lanqin oral liquid (10ml*6 bottles) from 2015 to 2019 and the average terminal retail price from 2018 to 2020 have shown an upward trend year by year.

However, patients always follow the doctor’s advice or follow the pharmacist’s recommendation when purchasing medicines, so they are not sensitive to the price of medicines and often lose their interests without knowing it.

Anti-monopoly incidents occur frequently in the pharmaceutical field, and national law enforcement and supervision continue to be stricter

Due to the particularity of the pharmaceutical industry, it is difficult to form sufficient market competition from the production and supply of raw materials, the production of pharmaceutical companies and the marketing of pharmaceuticals. A small number of manufacturing companies control the production and supply of APIs. These companies take advantage of market dominance to obtain price dominance, and thus may form a monopoly. At the same time, the current pharmaceutical industry has formed a highly concentrated market pattern, and many pharmaceutical companies secretly manipulate market prices through monopoly agreements, leading to price increases or shortages of drugs.

Fortunately, in recent years, the anti-monopoly law enforcement supervision in the pharmaceutical field has continued to tighten, and news that pharmaceutical companies have been punished due to monopoly has been reported frequently in the industry. In April 2020, the State Administration of Market Supervision imposed administrative penalties on three calcium gluconate API distributors, Shandong Kanghui Pharmaceutical, Weifang Taiyangshen Pharmaceutical, and Weifang Puyunhui Pharmaceutical, for their monopolistic activities, with a total fine of 325.5 million yuan. In January 2021, Simcere Pharmaceutical abused its dominant position in the sales market of China’s Batroxobin concentrate API, and refused to conduct transactions with counterparties without justifiable reasons, ruled out market competition, and was fined 100.7 million yuan. Yuan Renminbi. In April of the same year, Tianyao Co., Ltd. divided the sales market of fluocinolone acetate raw materials in the form of agreement, and changed and fixed the price of fluocinolone acetate raw materials to eliminate competition that restricted the sales of fluocinolone acetate raw materials, and was fined 44,022,600 yuan. .

At the same time, the state has successively introduced a series of measures to strengthen supervision and increase penalties. In 2017, my country issued the “Guidelines for the Price Behavior of Short Drugs and API Operators”, which became the first price monopoly guide for the pharmaceutical industry since the implementation of China’s anti-monopoly law. Subsequently, the “Opinions on Further Doing a Good Job in Maintaining Supply and Stabilizing Prices of Drugs in Shortage”, “Antitrust Guidelines in the Field of APIs (Draft for Solicitation of Comments)”, etc. In January of this year, the China Chemical Pharmaceutical Industry Association (CPIA) released the latest “Regulations for Compliance Management in the Pharmaceutical Industry”, with anti-monopoly being the focus of it.

It is reported that Yangzijiang Pharmaceutical, which was heavily fined this time, is a leading domestic pharmaceutical company. The “2019 China Pharmaceutical Industry Top 100 List” released by the China Pharmaceutical Industry Information Center shows that Yangzijiang Pharmaceutical ranked first in China’s top 100 pharmaceutical industry that year. Has been ranked first for 6 consecutive years. It is foreseeable that heavy penalties for industry leaders will have a huge deterrent effect on industry monopoly behavior.

It is worth mentioning that, according to Jiemian News, Yangtze River Pharmaceuticals previously reported to the court that four companies, Guangzhou Hairui Pharmaceuticals, Hefei Medical Engineering and Pharmaceuticals, Hefei Enruit Pharmaceuticals, and Nanjing Haichen Pharmaceuticals, were suspected of monopoly of APIs. Prosecute. In April 2020, the first instance of the case was concluded, and Yangzijiang Pharmaceutical was awarded nearly 70 million in compensation. And a year later, Yangtze River Pharmaceutical lost more than ten times the money it had earned by suing others for its monopoly because of its own monopoly.

Since the outbreak of the new crown pneumonia epidemic last year, traditional Chinese medicine and integrated traditional Chinese and Western medicine have played an important role in clinical treatment and have also provided new opportunities for the development of Chinese medicine companies. At the beginning of this year, the General Office of the State Council issued a notice on several policy measures to speed up the development of Chinese medicine characteristics, injecting development momentum into the Chinese medicine industry at the policy level.

Regarding the current market environment faced by the Chinese medicine industry, Jack Ma analyzed in his speech that as Western patent medicines face a decline in gross profit after “purchasing in quantities”, Chinese medicine will become a special supplement in the future. Regarding the development of traditional Chinese medicine, Ma Yun summed it up as “four regressions”: classic return, ecological return, quality return, and academic return. At the same time, the future development of traditional Chinese medicine will be a “classic road to large varieties”.

For Zhongjing Wanxi Pharmaceutical, the company began to study how to promote classic Chinese medicines in 2019, and proposed a “3 minutes to explain classics” in 2020 to empower product sales and retail. Jack Ma explained that the ultimate goal of “Explaining Classics in 3 Minutes” is to clarify the advantages and disease types of classical Chinese medicine in a particularly easy-to-remember and focused way, and to re-explain the essence of Chinese medicine.

In the process of “telling classics in 3 minutes”, Zhongjing Wanxi Pharmaceutical established a classic Chinese medicine value evaluation model, and conducted standardized research on the question of “how classic Chinese medicines come from”, including technology and raw materials from multiple perspectives. Zhongjing Wanxi Pharmaceutical also studied classic Chinese medicine with experts from various fields, repositioning classic products from the perspective of respecting history and digging into the ancestors, and proposed the “five parts and sixteen methods.” Ma Yun said that Zhongjing Wanxi Pharmaceutical has studied classic brands in terms of product positioning, theoretical basis, disease analysis, medication plan, dosage form notes, etc., reflecting the classic value of traditional Chinese medicine.

Compared with the past talk about function and main treatment, Zhongjing Wanxi Pharmaceutical has made innovations in the form of educating consumers. It has launched picture books, reading books, videos, shorthand cards, etc., which vividly interpret Chinese patent medicines in multiple forms. Jack Ma said that the purpose of “telling classics in 3 minutes” is to enable employees to speak and empower customers; customers can use it, consumers can accept it, and serve as a drain for the company. This will be a correct “open way” to deliver classic Chinese medicine by audience, level, time, space, and content.

“Ultimately, we want to contribute to the goal of’Healthy China 2030′ through the ‘3 minutes to explain the classics’, and work with our strategic partners to contribute our own strength to the promotion of Chinese medicine culture, the confidence of Chinese medicine culture, and the revival of Chinese medicine culture “Ma Yun said.