Dr. Sam Lu graduated from Fudan University in 1984 and UCLA-ZhongShan University English Language Center in 1985. He earned his Ph.D. degree from SUNY Buffalo in 1990 and went to the Johns Hopkins University for his post-doctoral research programs. In 1991 he joined Hoffmann-La Roche, Inc. as a Senior Scientist and later a Principal Scientist. In 1998 he went to Duramed Pharmaceuticals, Inc. to become Director of Analytical R&D. In June 2001 he joined Luye Pharmaceutical (USA), Ltd. and took the office of Vice President.

Abstract: Since the reform of Chinese social and economical structures, the Chinese pharmaceutical industry had undergone unprecedented changes. The drug approval and patent application/protection are catching up with the international standards. Drug advertising is more and more regulated. Due to the reform of healthcare business and the growth of insurance industry, the traditional marketing and sales techniques are being challenged. The establishment of OTC market gave more control to the consumers of pharmaceutical products. On top of all these, the wholly owned subsidiaries and joint ventures of major international companies have raised the standard of competition in terms of product quality and capital investment. The approaching deadline of China joining WTO will only intensify the competition in Chinese pharmaceutical industry. The management of Luye has not only seen the challenges but also the opportunities of these changes. The reform and WTO membership will help us raise our own standards and allow us to engage the international competitors outside of China. Luye Pharmaceutical (USA), Ltd. was set up this year in New Jersey to take these opportunities. With a good vision and an excellent management team, Luye is destined to become a major player in the international pharmaceutical arena.