China becomes key strategic market for CSL

Australian biopharmaceutical company CSL has designated China as one of its most important strategic markets worldwide, a milestone highlighted by a significant expansion of both its workforce and investment in the country, said a senior executive.

Since 1986, CSL — a century-old firm — has supplied human albumin to Chinese patients, with a large proportion of the company's albumin products supplied to the China market. According to data released by information consultancy IQVIA in September, CSL's human albumin has maintained the largest market share in China.

"As the world's second-largest pharmaceutical market, China, a market that we've been deeply involved with for 40 years, is a critical growth engine within CSL's global blueprint," said Wang Yu, general manager of CSL China, during a recent interview in Shanghai.

"Looking ahead at the vast market potential and opportunities, CSL will focus on 'new products, new collaborations, and new efficiency', driving sustainable and high-quality growth," she said.

For four decades, CSL has been committed to addressing the needs of patients with rare and severe diseases in China.

Human albumin, derived from human plasma, is used clinically for emergency treatment of hypovolemia, severe hypo-albuminemia, neonatal hyperbilirubinemia, and acute respiratory distress syndrome, among others.

Since 2018, CSL has experienced significant growth in China, according to Wang. Within regulatory limits, the company has supported medical institutions and clinical experts, contributing to the publication of several treatment guidelines and consensus documents, thus advancing the standardization and rational use of human albumin in the country.

In response to the Guangdong-Hong Kong-Macao Greater Bay Area's special access policy for Hong Kong and Macao drugs and medical devices that allows designated hospitals in the bay area to use Hong Kong-approved drugs and medical devices, CSL has facilitated the introduction of anti-D immunoglobulin to three medical institutions on the Chinese mainland, benefiting over 3,000 pregnant women with rare Rh-negative blood.

In March, Paul McKenzie, CEO and managing director of CSL, emphasized at the China Development Forum that China is a crucial strategic market for the company. He reiterated the company's commitment to deepening its presence in China, and fostering innovation with upstream and downstream partners to support the development of China's healthcare sector.

"The strategic market designation of China together with other markets, such as the United States and Germany, means our investment in China will be larger, more sustained, and more committed. Our workforce has grown considerably this year and continues to grow," said Wang.