Preparing Your Net in Emerging Markets: A Look at Two Success Stories

By Charlie Zhang and Jack Zhang

            To the outside observer, the Sino-American Pharmaceutical Association - Greater Philadelphia (SAPA-GP) 9^th Annual Conference seems like a social gathering of predominately Chinese American professionals, all of whom sport clean shirts or dresses, as well as a healthy interest in their work with medicine. Thus it was our initial impression upon entering Villanova University’s Conference Hall, the venue for SAPA-GP’s 9th Annual Conference. However, our perspective on these fellow members of the SAPA-GP community quickly changed as we proceeded to interview two speakers at the conference: Drs. Ruiping Dong and Jun Wu. These two speakers are both examples of success in today’s competitive world, and how hard work can prevail against possible hardships. Although both men are highly successful today, their paths to their current positions are radically different, a testament to their versatility.

            Our first report was with Dr. Ruiping Dong. Upon meeting him, we were immediately told of his exalted position in Merck, Co. as the Senior Vice President, Head of Emerging Market R&D. An amiable, friendly man, Dr. Dong explained to us his role in Merck and what it means, essentially, to belong to the emerging markets. “In today’s pharmaceutical world,” Dr. Dong explained, “almost 90% of a company’s growth comes from emerging markets. So this is a very important part for Pharm to keep focusing emerging markets” Dr. Dong continued to explain that emerging markets are the areas into which large pharmaceutical companies are currently expanding for the huge unmet medical needs there. Dr. Dong told us of BRIC nations, namely Brazil, Russia, India, and China, as current important areas for the “expansion.”  Beyond this basic knowledge, Dr. Dong also gave us insight into the challenges that companies face in these emerging markets. Many people in emerging markets often have low incomes, which make the access of innovative drugs much more difficult. “In developed countries insurance would usually cover the costs,” Dr. Dong said, “but oftentimes insurance isn’t widely available in emerging markets.” After posing for a photo with him, we learned that he has served as the Head of R&D Japan & China at BMS, and he had been in the pharmaceutical R&D for a long time. Dr. Dong represented the paragon of hard work and dedication, of how maintaining the same area leads to promotion and great success. However, this persistence is not the only way one can make a mark in today’s pharmaceutical world.

            Our next interviewee was Dr. Jun Wu, the Chairman and founding partner of Cenova Ventures, which as the company name implies, deals with venture capital. We met with Dr. Wu, and the first impression we had gotten was that this man certainly had an intelligent air about him. When we sat down for the interview, Dr. Wu immediately dove into his life story, using it to weave a message about career opportunities and preparing for life. He told us of the hardships he had endured when he first came to USA in 1987. Dr. Wu told us that in a month, all of his fees and expenses added up to only $36, something that he had described as “unimaginable for today’s generation.” From there, he was able to receive his Ph. D. from the University of California at San Francisco, thus beginning his career as a Research Scientist. However, unlike the most, he decided to combine his knowledge of medicine with a novel area: business. Thus, with government and private funding, he co-founded Shanghai Genomics, and it grew to become one of the flagships among the Chinese biopharmaceutical companies established by returnees. After that, he founded Cenova Ventures, a life science specific RMB venture fund in China. Throughout the interview, Dr. Wu told us about his more sentimental values that he holds and how his experiences with patients of lung fibrosis inspired him to develop new medicine. Dr. Wu then explained to us his work on Pirfenidone, the world’s 1^st anti-fibrotic drug, a potential “billion-dollar drug”, developed by his prior venture company. Dr. Wu’s story represents the power of courage and vision for changes.

            Perhaps the most memorable aspect of both interviews was the mention of how life is like a net. “In life, you study and prepare yourself for the world. That is like knotting your net and repairing holes in the net,” Dr. Wu explained. “The opportunities and jobs that come up are like the fish swimming in the ocean. However, only a dense net can properly catch all the fish that pass through your net. Thus, by preparing yourselves for the future in many possible ways, you are weaving your net for catching those fish later on in your life.”

            By attending SAPA-GP’s conference, we most certainly have.