Two More MNC Pharma Executives Set to Join Chinese Biopharma Firms Amid IPO Filings

　　【Pharmaceutical Network Industry DynamicsOn December 9, AstraZeneca officially announced to its employees that Yin Min, Head of AstraZeneca China Oncology Business Unit, and Wang Dong, Head of Retail Business Unit, have decided to leave AstraZeneca to pursue external career development opportunities. Their last working day at AZ will be on the 31st of this month.
 

According to reports, Yin Min joined AstraZeneca China in September 2006, serving as Finance Director, Greater China Compliance Officer, and other positions. Starting from June 2018, Yin Min began to serve as the General Manager of AstraZeneca's Oncology Business Unit in China. Wang Dong joined AstraZeneca China in 2015, responsible for the business development and team management of the company’s full range of products in the retail channel. Since 2019, AstraZeneca's retail market has continued to develop positively, helping AstraZeneca establish a strong position in the retail industry.
 

In AstraZeneca's announcement to employees, the company has not yet disclosed a successor for Yin Min after her departure. However, prior to the successor’s arrival, the Oncology Business Unit will be temporarily led by President Wang Lei. Li Baiyang, the current acting Marketing Director of AstraZeneca China’s National Retail Market Department, will be promoted to Executive Director and Head, overseeing retail operations. He will report directly to AstraZeneca China's Vice President, Chief Marketing Officer, Head of Commercial Strategy and Operational Excellence, as well as the leader of County Chronic Disease Business and Community Health Business.
 

Notably, since July this year, there has been a frequent "exodus" of senior executives from AstraZeneca China, with many of them moving to local pharmaceutical companies. For instance, on November 3, Du Haochen, Vice President of AstraZeneca China and head of the county business unit, decided to leave the company for personal reasons. Then, on November 18, Du officially joined BeiGene, taking on the role of head of the broader market. According to industry insiders, after these two individuals leave AstraZeneca, they will each join two pharmaceutical companies in China.
 

In fact, it has long been very common for senior executives of multinational pharmaceutical companies to move to local Chinese pharmaceutical enterprises. Just this year, a large number of senior executives from multinational pharmaceutical companies have successively joined domestic pharmaceutical companies. For example, in October, Dr. Joseph E. Eid, an expert in the medical field, officially announced his joining Hengrui Medicine, where he serves as Executive Vice President, Chief Medical Officer, and Head of Global Drug Development. It is reported that Dr. Joseph E. Eid, as a medical oncologist and hematologist, has over 20 years of extensive experience in clinical development and medical affairs within academic medicine and the biopharmaceutical industry. Additionally, prior to his role at Hengrui, Dr. Joseph E. Eid held senior executive positions at several multinational pharmaceutical companies, including Roche, Merck, and Bristol-Myers Squibb.
 

On the same day, Beijing Danxu Biopharmaceutical Co., Ltd. announced the appointment of Shi Qian as the company's CEO, responsible for all operations at Danxu Bio. Prior to joining Danxu Bio, Dr. Shi Qian served as the General Manager and Head of Research for China at Apollomics. Going back further to July, MedChina also announced the appointment of Dr. Dai Xuedong as Executive Vice President of MedChina’s International R&D Services Department. Before joining MedChina, Dai Xuedong held senior executive positions at domestic and international pharmaceutical companies and CROs such as Xi’an Janssen, Hengrui Medicine, GSK, and Xenoport.
 

Analysis suggests that, based on the above and the flow of multinational pharmaceutical companies in the past two years, the executive turnover of multinational corporations has significantly accelerated. This may be due to the drastic changes in China's pharmaceutical industry, large-scale adjustments by multinational pharmaceutical companies to their strategies and talent structures in China, as well as the continuous positive development of China's pharmaceutical industry, which requires a large number of executives with international perspectives to lead the way. Consequently, more attractive conditions have been offered, resulting in a continuous return of foreign pharmaceutical talents.
 

In the future, against the backdrop of the rapid development of local pharmaceutical industries and companies, the diminishing advantages of foreign enterprises, and the attractive benefits offered by Chinese companies, the number of senior executives from multinational pharmaceutical firms leaving to join local innovative drug companies is expected to continue rising. Notably, at the same time, the competition for high-level talent between the two sides is also predicted to intensify.