According to the industry analysis, China pharmaceutical market grew by double-digit annual growth rate, and prescription drugs market is expected to grow at a CAGR of 20.7% from 2005 to 2016. Drawn by rapid growth and significant market potential in China, many overseas pharmaceutical companies are eager to bring their products into Chinese market. This offers a significant growth opportunity for pharmaceutical marketing and promotion service providers. Those large global pharmaceutical companies generally focus their resources on their flagship products and concurrently, they have engaged third-party service providers (such as CMS) to market promote and sell their other non-core products in Chinese market. For those small and medium size overseas pharmaceutical companies have limited understanding of Chinese market and culture and do not have the capability, experience and expertise to establish their own promotion and sales team to introduce their products into Chinese market, they have to choose third-party promotion and sales service providers to provide all the services for their products development in China, and this is also a cost-efficient way for them to enter Chinese market. As to the domestic pharmaceutical companies, which lack of relevant marketing, promotion and sales capabilities, also have to rely upon third-party providers to market, promote and sale products.
As a leading provider of pharmaceutical services based in China, CMS is keen to capture growth opportunities and strive to provide professional one-stop services for market development of prescription drugs from overseas and domestic pharmaceutical companies. Under the Direct Academic Orientated Promotion Model, we built up the Direct Academic Orientated Promotion Network by our in-house sales professionals，and they employ academic-oriented approach to market, promote and sale products to doctors directly. Under the Agency Promotion Model, We set up the Agency Promotion Network national wide through independent third-party sales representatives or distributors, we take the advantage of their in-depth understanding of local market and good relationship with doctors to achieve national wide products coverage and penetration very quickly. Through product positioning, we design appropriate marketing strategies and plans. For example, one-on-one physician visit, providing them with professional education of relevant product knowledge and therapeutic areas, organizing medical symposia, sponsoring industry conferences etc. At the meanwhile, we also provide other value-add services including biding and updating importing license, organizing and starting clinical trial, biding tender processes of varied area and providing import agency service, customs clearance and drug inspection clearance and other aspect of the products.
The effective combination of the professional academic ability of Direct Academic Promotion Network with the rapid market coverage ability of Agency Promotion Network enable us to cross-sell products in a cost-effective manner in Chinese market to create better value for physicians, patients and domestic and overseas specialty pharmaceutical companies.