Many pharmaceutical companies in China are hoping to pass major international certifications, such as certifications from the WHO, EU and Australia. “It is likely that 20 pharmaceutical companies can obtain international certifications this year,” said Mr Yu Mingde, a vice-director of China Pharmaceutical Enterprises Management Association.
Temptation from the outside
2007 was another record year for China’s western medicine export value, up 56% to US$784 million. However, most medicines that went to big markets such as Japan, Korea and Australia were products from foreign companies in China, mainly in the form of export processing trades. Products made by domestic Chinese companies were exported to low end markets such as Nigeria and Pakistan. As Chinese pharmaceutical companies are still weak at proprietary R&D, most of their products are generic copycat drugs.
Yu revealed that “the big three markets of EU, US and Japan have different market systems to ours. For the … Read More