Top European pharma giants GSK, Roche and Merck expand operations in HK

Hong Kong has attracted a new batch of 18 strategic enterprises to establish operations or expand in the city, including leading European pharmaceutical firms GSK, Roche, Merck as well as Chinese social media platform Xiaohongshu.

The move is part of the latest effort by the Office for Attracting Strategic Enterprises (OASES), with the companies signing agreements with the authorities on Thursday (Oct 9).

Industry veterans point out that this latest development marks that four of the world's top 10 pharmaceutical companies have now established a presence in Hong Kong, including AstraZeneca, which was introduced in 2023.

The initiative also aligns with the commitment outlined in the policy address to attract more enterprises to conduct clinical trials and provide medical treatments for rare disease drugs, high-end cancer drugs, and advanced therapy products in Hong Kong.

"With today's addition, the number of strategic enterprises attracted to Hong Kong will surpass 100," Financial Secretary Paul Chan Mo-po said at the signing ceremony. "Collectively, they are bringing in over HK$60 billion in investment and creating about 22,000 quality jobs." 

He noted that it is also the first time Hong Kong is welcoming cultural and creative enterprises that integrate technology with artistry and entertainment. 

"The global digital entertainment market is growing rapidly, powered by IPs, AI and Web3," Chan pointed out that Hong Kong is an ideal launchpad for the enterprises to grow and scale across Asia and beyond, as it has the unique connectivity to both the mainland and the world.

Among the newly introduced companies, GSK's main products are related to the respiratory, anti-infectives, gastrointestinal, and central nervous system fields.

Roche, with a history of over 120 years, not only provides medication for oncology, virology, immunology, and infectious diseases but is also a pioneer in in-vitro diagnostics, tissue diagnostics, and diabetes management.

Merck's key drugs focus on oncology, neuroscience, diabetes, and thyroid disorders, with its division, Merck Serono, specializing in research on targeted therapy drugs.

General manager of GSK Hong Kong and Macau Nicholas Teo emphasized that Hong Kong serves as an ideal regional hub for the company, given its role as a bridge connecting the mainland and international markets amidst the continuous development of the Greater Bay Area.

Amy Ho, general manager of Roche Hong Kong, stated that the pharmaceutical giant maintains a positive outlook on Hong Kong’s inherent advantages.

Wang Yangbin, Chairman, Executive Director and Chief Executive Officer of Vobile, pointed out that while Hong Kong possesses fertile ground for IP development, it currently lacks the necessary conditions for full-scale industrialization.

Shan Wu, AstraZeneca's general manager for Hong Kong and Macao, earlier stated that Hong Kong boasts an internationally recognized healthcare system, professional management, and medical institutions.

Hong Kong's clinical trial platform also complies with multiple international standards and is recognized by global regulatory authorities, she said, which significantly accelerates the drug registration process by avoiding redundant trials.

Additionally, statistics show that the Greater Bay Area, with a population of over 86 million, not only provides patients with broader access to clinical treatments but also supplies ample data and information for pharmaceutical research.