T&M-DDP Executive Forum Series: Biotech Start-Up – The Growing Pain & Fun by Dr. Benjamin LI, Chief Executive Officer of Lee’s Pharmaceutical Holdings Limited
Dual Degree Program in Technology and Management (T&M-DDP) invited Dr. Benjamin LI, Chief Executive Officer of Lee’s Pharmaceutical Holdings Limited to share his research and start-up journey of his pharmacy empire at the Executive Forum on 23 September 2016. Over 100 students joined the forum and got insight in biopharmaceutical industry.
Biopharmaceutical industry is not a mainstream business in Hong Kong but it is one of the best growth industries with global revenue of 300 billion USD. With its promising and enduring prospect, its entry threshold is high that requires precise and professional knowledge plus enormous time and efforts in research and development while failure is norm. Dr. LI started his business in 1994 but he could only make profit until 2007. 7 years of deficit was a difficult hurdle for start-up but Dr. LI continued the operation with perseverance and finally got his company listed on the Hong Kong Stock Exchange in 2002. The share price was just HK$0.4 each at launch and now rises to around HK$7 per share.
Dr. LI shared real successful and failed cases on drug development starting from idea to make a difference, research, seeking approval from related authority to sale in the market. He concluded that if students wanted to succeed in biotechnological business, they would need to acquire well-integrated knowledge in science and business, and also work with perseverance, commitment and passion. Good knowledge and attitude is always the key to success no matter in what industry.
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (www.ust.hk) is a world-class research university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. HKUST attained the highest proportion of internationally excellent research work in the Research Assessment Exercise 2014 of Hong Kong’s University Grants Committee, and is ranked as the world’s best young university in Times Higher Education’s Young University Rankings 2019. Its graduates were ranked 16th worldwide and top in Greater China in Global University Employability Survey 2018.
