Sanofi’s outgoing China market president, Pius Hornstein, expressed confidence in the potential of China’s online hospital sector to advance the company’s digital health strategies, despite regulatory hurdles and profitability challenges.
Regulatory Landscape
Hornstein, who will soon take over as Sanofi’s global digital division head, addressed new rules issued in March 2022 by Chinese authorities. The regulations mandate in-person consultations for doctors and require prescriptions for drug sales. He emphasized Sanofi’s commitment to investing in e-hospitals, citing digital channels as a means to enhance disease management for chronic conditions, boost profitability by bypassing traditional sales channels, and improve access for patients in remote areas.
Investment in ClouDr
Sanofi was one of four cornerstone investors in online medical firm ClouDr’s initial public offering in Hong Kong in July, with a stake valued at USD 15 million. Hornstein acknowledged that online hospitals have yet to achieve profitability. He stressed that online platforms should function as medical institutions rather than solely as e-pharmacies and highlighted the importance of commercial health insurance in ensuring a stable patient base.-Fineline Info & Tech
