Chinese pharma: a dynamic market

The Chinese pharmaceutical market confirms its second position in the world after the US. Chinese drugmakers yielded $123bn revenues in China in 2017, with a 5% annual growth rate. The number of approved drugs keeps growing and reached 39–including 4 biologic medicines–in 2017. The two most active non-Chinese companies are clearly  AstraZeneca and Pfizer, whose revenues increased by 24% in China over the last quarter and by 16% year-to-date. The Government has recently shown it intends to play a key role in the business, indeed the market share of foreign pharmaceutical groups has decreased by 10% over the last few years, also because Chinese companies have strengthened their position in the generic drugs sector. In the near future, it will be Chinese firms–instead of foreign groups– to assume total control over the business of drugs without patent protection in China, analysts say.

(Source: FT)