MNCs Bank On China Generics Market
This article was originally published in PharmAsia News
Many multinational companies have been planning to tap the huge potential generic drug market in China. Recently, Novartis subsidiary Sandoz China acquired Grunenthal's factory for $35 million to boost Sandoz's generics production for the China and Asia markets. Bayer has also been stepping up efforts to expand its over-the-counter drug strategy in China. Generics represent an important business for MNCs, which enjoy a good market base and prices much higher than similar domestic products. However, analysts note that the trend may be influenced by many factors, such as the government's policies on pricing and health insurance, consumers' preference for mid- to low-end generic drugs and pharma companies' managerial ability to address rapid changes in the local market conditions. (Click here for more)
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