The Chinese Biopharmaceutical Association-USA (CBA) recently hosted the China Pharmaceutical Enterprise Association (CPEA) during it’s annual conference.
The event marked a milestone for both groups, who have experienced substantial growth recently. Twenty years ago, CBA was a tiny group of young scientists, all with ties to China. However, this small group had a large vision: to create a platform for collaboration in life sciences and the biopharmaceutical industry. That vision was put into action and today, CBA has grown into a truly global organization with a strong and growing reputation. While remaining true to their founding mission, their annual conference serves to reinforce and extend the commitment of CBA to foster greater global collaboration and new partnerships between China and USA in the biotech and pharmaceutical arenas.
Likewise, CPEA’s key function is also to provide services. Their member companies are advised on four key areas:
- Policy Promotion: China is in the process of policy research, policy investigation and study, policy-making, and policy improvement, which calls for our active participation. What the CPEA does the most is to participate in policy research and development as well as the modification and improvement for the existing policies. This is the most important responsibility of the association.
- Information Exchange: Perhaps now more than ever, companies are in need of transmission of information and its interpretation. While companies need information, they do not have the capacity or sources to obtain it. Therefore, CPEA makes it a goal to provide the clear exchange of information.
- Strengthening Self-discipline: CPEA requires all 300 member companies to adhere to strict self-regulation according to a number of laws, regulations and administrative provisions. Members follow the rules seriously.
- Upholding the Rights and Interests: In the occurrence of an infringement of a member company’s interests during its operation, CPEA works with the member company through various means and channels, including litigation, to safeguard their legitimate rights and interests.
During CPEA’s time in the United States, the group also met with China BioVentures (“CBV”), an organization focused on the acquisition of medical technologies from Europe and the United States. CBV operates primarily by forming companies and selling a majority control to leading Chinese companies, eliminating the challenges for both Chinese and American firms. CPEA had the opportunity to listen to CBV’s business strategy and catalogue of healthcare companies. In turn, CBV used the meeting as an opportunity to learn more about the CPEA delegates’ interests and begin to develop a long-term relationship.
CBV’s mission is to provide services as an alternative to the language, cultural and trust issues that make cross border transactions inefficient, costly and risky. Their long-standing relationships with senior healthcare executives and investors allow for efficient communications, fair transactions and ongoing guidance.
Through the convergence of a technology partner, development partner and operating partner, CBV is able to offer a free-standing entity in a structure that is efficient and flexible.
The meetings between the parties were critical in the ongoing importance of China-U.S. collaboration, in addition to the critical need for innovation healthcare solutions.