New drug R&D typically holds the characteristics of high technical barriers of entry, requiring high monetary spending, long cycle of development, multidisciplinary, and carrying high risk and high added value. Formulating and optimizing new drug R&D strategy is of great significance to the survival and development of pharmaceutical enterprises. The problem of absence of new drug strategic management is pervasive in the process of innovation and transformation of Chinese pharmaceutical enterprises. Through analyzing the cases of leading enterprises in the industry and exploring the methods to formulate and optimize the management of R&D strategic planning and its implementation, the author is dedicated to the benefit of domestic enterprises to promote and develop low-cost, high-quality new products with clinical and commercial value, aiming to improve China's influence and competitiveness in the field of innovative drugs.