A representative from Pharmtel Corp in China spoke to the INTERPHEX audience this morning at New York City’s Javits Center about why US pharmaceutical investors should come to China. Unfortunately, his presentation was not very convincing. “I think US investors are cautious because of the cultural differences,” he said. It seems to me that recent breaches in the supply chain and contamination issues are the real concerns keeping US investors at bay.
With a few slides discussing how China has CGMP facilities and ingredients ready, as well as very cheap labor, the speaker’s urge for US capital (the last thing it needs) came off more as desperation than honest business wooing. He even mentioned that he thinks the overall mentality throughout China needs to change. When it comes to quality and convincing the US market that China’s manufacturing teams and products are safe, quality controlled, and well regulated, I couldn’t agree more.