(Yicai Global) Aug.16 -- "Innovation" was the word Alberto Colzi, AbbVie's international president for JEM&A, used the most when he sat down with Yicai Global recently to explain how the US biopharmaceutical firm values the Chinese market and benefits Chinese patients with its innovation and science.

As a frequent visitor to China, Colzi knows Shanghai well and has already spotted the similarity between his company and the modern metropolis: "Shanghai is vigorous, changes quickly and thirsts for innovation, just like AbbVie."

Alberto Colzi, President International AbbVie, Japan, Emerging Markets & Australia 

Colzi is not alone. He told Yicai Global that the Chinese market is so important that he and other senior management visit often.

"We are very excited about recent development in China, which is already the second-largest pharmaceutical market in the world," he said. "The Chinese government has taken active measures to continuously encourage the R&D and listing of innovative drugs, creating a very favorable environment for innovative biopharmaceutical companies like AbbVie."

As a research-driven bio-pharmaceutical company, AbbVie has had science and innovation in its blood from the very first day, said Colzi, who has nearly 30 years of experience in the healthcare business. North Chicago-based AbbVie was formed at the very start of 2013, inheriting over 130 years of heritage in medical R&D from Abbott Laboratories. The seven-year-old company listed on the New York Stock Exchange as an independent company in January 2013 and has grown into one of the world's top 10 pharmaceutical companies by both revenue and market capitalization.

AbbVie China is headquartered in downtown Shanghai at HKRI Taikoo Hui. After entering its head office, your eyes are instantly drawn to AbbVie's eye-catching dark blue wordmark. Images of test tubes and other scientific equipment also command attention, and reflect the company's commitment to transforming lives for the better through innovative medicines and solutions.

Colzi believes that the implementation of the Chinese government's series of policies enables AbbVie to better address Chinese patients' unmet medical needs. He said the Chinese government is continuously deepening the reform of medical insurance policies, shortening the time for drug reviews and approvals, encouraging innovative drugs and making them more accessible to patients. With these measures in place, China is gradually transforming itself to a global player in the pharmaceutical and healthcare industry, which will certainly have a positive and far-reaching impact on AbbVie and its peers, he added.

Colzi cited Mavyret, a pan-genotypic antiviral therapy that can cure hepatitis C in as short as 8 weeks, as an example. Mavyret got the go-ahead to enter the Chinese market in May after getting the green light in the European and American markets just one and a half years ago. Additionally, HUMIRA was granted priority review for the treatment of psoriasis and the indication for uveitis has been included in the list of new overseas medicines for urgent clinical needs.

"The progresses are very encouraging," Colzi said. "Our global team and colleagues in China have been working closely together to introduce more innovative medicines to Chinese patients as soon as we can."

In addition to increasing availability, AbbVie is committed to enhancing affordability, Colzi added. "I believe the best way to enhance affordability in China is to incorporate drugs into the medical insurance system. We are willing and hope to collaborate with the Chinese government to widen access to our innovative medicines."

Colzi noted that AbbVie is dedicated to researching, developing and delivering leading and innovative therapies across several therapeutic areas, with the main aim of addressing the toughest global health issues and satisfying healthcare demands that have not yet been met.

"In the area of immunology, we have the flagship product Humira, a No.1 prescription drug in terms of sales revenue for 7 consecutive years. It is not just a single drug, but a pipeline product with more than 15 indications serving over a million patients globally." Colzi said, "The product has fully demonstrated its commercial value and capability to meet clinical needs."

"We will not be satisfied with these results, however, and are enriching our product portfolios and consolidating our leadership in immunology with more innovative therapies and methods of treatment," he added. "Risankizumab is a monoclonal antibody targeting interleukin-23 (IL-23) and it has been approved to hit markets in Japan, the US, Canada and the European Union, while Upadacitinib is an oral JAK1 selective inhibitor that has been qualified for priority review and will hopefully get the approval and hit the markets within this year," Colzi said.

Oncology is also a very important area that AbbVie focuses on. For instance, Venetoclax has obtained five "breakthrough therapy designations" from the US Food

and Drug Administration and has been approved for the treatment of acute myeloid leukemia (AML) and chronic lymphocytic leukemia (CLL).

"We will also expand the use of this drug to apply it in the treatment of other tumors," Colzi said. "It will also be of great importance to Chinese patients in the future."

Before he concluded the interview, Colzi also attributed AbbVie's impressive growth to its employees. As a globally reputable employer and a certified 5-time Top Employer in China, he is confident that AbbVie attracts the best talents in the industry. "We support and develop dedicated people through various programs and opportunities. We will continue to attract talents to join us as we grow our business in China."