So many western drug companies have set up offices in Shanghai’s science park in the past few years that their employees now even have a lunch venue named in their honour: the Pharma Valley Restaurant.
While Chinese companies remain focused on their domestic market, its presence symbolises that foreign rivals are just as interested in local investment.
“No western CEO can afford not to have a China strategy,” says Xun Zhang, senior vice-president at Hutchison MediPharma, part of Hutchison Whampoa. Last month, he hosted a delegation of top executives from Merck in the US, which seeks to understand and expand in the market.
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