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Join us as we explore the gears that power our business model in our ongoing series #DiscoverViatris
July 9, 2021
At Viatris, our business model starts with our deep expertise in the markets we serve including four segments: Developed Markets, which includes Europe and North America; JANZ, which is Japan, Australia and New Zealand; Emerging Markets, including countries across low- to lower-middle-income levels; and Greater China, which is Mainland China, Hong Kong, Macau and Taiwan. Discover Viatris by learning five things about our Greater China segment below:
1 Viatris is ranked among the leading pharmaceutical companies in the region by revenue. We rank eighth among all multinational pharmaceutical companies in mainland China, ninth in Hong Kong, and 14th in Taiwan.1
2 China has the second largest economy in the world with 20% of global GDP and is expected to grow more than 7.5% in 2021. Healthcare spending is about 6% of GDP and expected to rise in line with the GDP. Recent healthcare reform initiatives in the country such as volume-based procurement is shifting funding towards innovative medicine and broadening coverage of basic medical needs. In the meantime, private funding is growing rapidly, driven by rising disposable income and the need for high-quality healthcare. The strong economic fundamentals and the rise of healthcare consumerism offers great opportunities for Viatris to reach patients beyond the traditional hospital channel.
3 Viatris’ Dalian manufacturing plant opened in China in 1989, as the first Good Manufacturing Practices (GMP) facility in China with world-class quality and safety systems. With deep roots in the local community, Viatris China has a field force of about 4,200 employees covering more than 70,000 hospitals and more than 400,000 pharmacies in over 300 cities.
4 China is a country with a large population and significant unmet medical needs. Cardiovascular diseases represent the country’s greatest disease burden. To address those needs, we partner with the healthcare community and government in China on a variety of programs to promote prevention, management and treatment of noncommunicable diseases.
5 Viatris China is positioned for success. In addition to our broad portfolio, we have deep industry experience, local manufacturing, strong R&D capabilities and a mindset focused on quality and compliance. That robust toolkit of capabilities will help us empower patients in Greater China to live healthier at every stage of life.
1 Based on RDPAC and IQVIA data.