CMS is the largest pharmaceutical services company focusing on the marketing, promotion and sales of prescription pharmaceutical products in China. We operate the largest third-party promotion network in China in terms of hospital coverage, therapeutic focus and the number of salespeople. With our experience, knowledge and proven track record, we are able to help overseas and domestic pharmaceutical companies to introduce and market their products to the Chinese market.
According to Frost & Sullivan (an independent third party market researcher), China’s spending on prescription drugs is expected to grow at a CAGR of 20.7% from 2005 to 2016. Drawn by such rapid growth and significant market potential in China, many overseas pharmaceutical companies are eager to bring their products to the Chinese market, and some domestic pharmaceutical companies also need to expand their market share in China. According to the Frost & Sullivan, sales of imported prescription drugs in China grew by 38% in 2009, eclipsing the growth of the overall prescription drugs market in China. Domestic pharmaceutical companies lacking the relevant marketing, promotion and sales capabilities may also rely upon third-party providers like CMS for these services.
We mainly provide exclusive marketing, promotion and sales services to specialty pharmaceutical companies，including via our owned professional sales and promotion team to visit physicians one-on-one, providing them with professional education specific to therapeutic areas related to our products, educating physicians on the clinical uses, benefits, side effects and other clinical aspects of our in-licensed products, organising medical symposia and sponsoring industry conferences. And also through our strong agency marketing and promotion network to promote and sell products for overseas and domestic pharmaceutical companies in China.
Our services are focused on the value creation aspects of marketing and promotion, such as elevating product profile and enlarging the pool of prescribing physicians for a particular product. We also provide other value-added services needed by our suppliers to bring their products to the market, including handling registration for imported drugs new to China, renewal of expiring imported drug registrations, bidding in collective tender processes, custom clearance, and inspection of imported drugs and other managerial aspects of the products.