GUANGZHOU, China, April 27, 2015 /PRNewswire/ -- Techpool Bio-Pharma Co has experienced tremendous changes in the past three years under the leadership of its new chief executive officer, transforming from a traditional private Chinese company to an international player.
Before Henry Lee took office in 2011, he was the senior executive in many leading companies in the pharmaceutical field, including Novartis and Eisai, with more than 20 years successful management experience in both China and the Asia-Pacific region.
"I chose Techpool because of its huge development potential. Also, it had a pure, positive and healthy corporate culture, which was different from what I imagined that most of the Chinese private companies have complex and chaotic personal relations," Lee said.
It also had more comprehensive development than most Chinese private companies, with research and production capacities and a sales and marketing team nationwide.
However, "the business model the company implemented at that time could not support its sustainable development," he said.
In addition, the company also made significant changes, from its production lines to marketing, hardware and software.
"Last year, we realized production based on standards of the current good manufacture practices, or China new GMP standards, the first of its kind in Guangdong province where Techpool is headquartered," Lee said.
The China new GMP is a world-leading standard for pharmaceutical, medical device and food manufacturers in their production and testing of products. This is comparable with EU GMP standard.
"We also introduced the six sigma program to improve our management level," he said.
Six sigma is a management method developed by Motorola Inc that emphasizes setting extremely high objectives, collecting data and analyzing results to a fine degree as a way to reduce defects in products and services.
"Our production team knew its shortcomings by learning those advanced international standards," he said.
The company established a raw materials plant in Nansha district in the provincial capital Guangzhou to support its long-term business strategy. The plant will be completed this year.
The transformation of commercial operation lasted for three years. The company had only a sales department before, but now it has a systematic medical marketing approach that involves many departments.
Techpool has also improved its systems of finance, IT and performance evaluation. And its risk management is stricter.
"We have learned many experiences from foreign companies, but we did not totally follow their suit. We only adopt those which are suitable for Techpool," Lee said.
"Challenges and questioning are inevitable during the reform. Some colleagues left and some clients ended the cooperation with us, and we also had a period of negative growth in sales in 2012, but we upheld and finally made it," he added.
Lee said the past three years were spent laying foundations for Techpool, to make it qualified to realize rapid development in the future. The company's sales revenue is aiming at over 20% annual growth by 2018.
"We have a vision, that is, to become one of the most respected and preferred leading bio-pharmaceutical partner of critical care community," Lee said.
China has a larger space for the development of the sector than the US and European countries.
"ICU beds account for three to five percent of the total in China, but 11 percent in advanced foreign countries. We also lack experts in the field," he said.
For example, Lee said, the number of stroke sufferers in China has continued to grow while the average age of those patients has become younger.
"Techpool has innovative medicine for the disease, but we also want to develop an all-round solution based on China's situation. We hope to provide services and products in prevention, diagnosis, treatment and rehabilitation," he said.
The company also has a medicine for bone-related diseases caused by tumors.
In 2011, Techpool started to export its medicines to explore the international market.
"We have obtained regulatory approval in India, and now filed the application in Russia. We will tap into more advanced markets when we have enough experience and capabilities," he said.
For other Chinese private pharmaceutical companies who wish to become more international, Lee suggested they cooperate with foreign and local companies in research and innovation, and also learn advanced decision-making and corporate management systems.