Shanghai takes right path toward innovation hub
Print Edition
Chief executive officer of Boehringer Ingelheim China David Preston was awarded the Magnolia Gold Award along with 10 other recipients in Shanghai at the end of last month in recognition of their contribution to the city’s development. This is the second time Preston received the Magnolia Award after he became a Magnolia Silver Award recipient two years ago.
Shanghai Daily talked to him about his perception of the city, how he thinks about Shanghai’s efforts to build an innovation center and how the pharmaceutical company hopes to contribute.
Q: Congratulations on the Gold Award! How do you feel about receiving the award for a second time? Is there any difference compared with your first Magnolia award two years ago?
A: The Silver Award gave me a pause to reflect that our company and Icould and should contribute more to our relationship with China, Shanghai and the people of Shanghai. For me, the Gold Award seems to be more focused on the company. Over the past two years, we’ve increased our engagement with both the government and the local community and the Gold Award also validates what the company has been doing, both externally and internally.
This is indeed a great honor and I accept this on behalf of the hardworking people of Boehringer Ingelheim and my lovely Shanghai family.
Q: What is the biggest change you’ve witnessed in Shanghai, both as a local resident and as a businessman?
A: I first came to China in 1991 and twenty-five years is almost a lifetime when you are a foreigner in another country and changes are too numerous to mention. I’ve seen the city has evolved from a big city to a business hub, living conditions improved, urbanization was well-managed and the creation of an innovative culture. Shanghai is by far the most attractive place for high quality human capital from overseas and domestic cities.
It’s a real pleasure for the company to be in Shanghai where we can get tremendous support if we have the right project. The city officials keep spending time to consult foreign experts and to propel this city. They want to improve and to build on what has been achieved instead of just maintaining it.
Q: BI’s global executive team showed great confidence in its business in China. How do you convince them China deserves more focus and continuous investment?
A: China reports directly to the board of Managing Directors of BIand therefore the correct amount of focus and subsequent investment are not in question. The global leadership and shareholders continue to have unwavering belief in China and Shanghai. I want to spend as much time as possible doing this: to get them to really like China and to fully understand the opportunities as well as challenges.
We continue to build our China business primarily in Shanghai with Zhangjiang Hi-tech Park as our preferred partner. Our current projects range from world-class biotech manufacturing and production to the state-of-the-art animal vaccine plant in Taizhou, which would accelerate and consolidate our leadership position in animal health and vaccine sector in China.
Q: What kind of role does BI hope to play as China strengthens its pharma¬ceutical industry and drug administrative authorities steps up reform measures in terms of new drug approval and accessibility?
A: Digital seems to be redrawing the map how products are distributed and how diseases are managed. It also enabled us to directly access patients to educate them about diseases and products. We want to harness the power of digital to interact with patients and the whole industry chain to improve our market-ing and sales efficiency.
The role for a high-tech family-owned company like Boehringer Ingelheim will be to drive innovation under the “new normal”. Let’s be clear. The “new normal” in China continues to be very attractive.
The strong partnership with the Shanghai Food and Drug Administration has already shaped national policies and opened the door to shift from investment-driven to innovation-driven projects. BI is well placed to take advantage of this new innovation-driven economy.
Q: Can you talk briefly about BI’s social responsibility programs in China and how do you think those programs could help drive the awareness of BI as a renowned business entity in China?
A: We put a huge effort into providing employees with opportunities of volunteering because it brings out the best in leadership and our employees also find these social responsibility programs attractive and rewarding. We have integrated social and business plans with leadership programs and skills. Being a good citizen in Shanghai is critical to a long-term success in China.
Q: What’s your personal suggestion for Shanghai to be an innovation hub?
A: We’ve seen a lot of overseas scientists are also coming back to build their own business. Shanghai needs to continue to understand where the bottlenecks for innovation are and continue down the path it’s taking right now to build up an environment for these returnees or overseas experts. This will then ensure the correct policies and changes.
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