Pharmaceutical MNCs Chalked Up Impressive Growth In China
This article was originally published in PharmAsia News
Even as the pharmaceutical industry worldwide experiences a slowdown, most MNCs in China chalked up an average growth of over 20 percent in 2007, higher than the previous year's 15 percent. GSK China (including Hong Kong) turned in a 24 percent increase, with prescription drugs jumping to 30 percent, in contrast to its global 2 percent growth. AstraZeneca's sales grew 25 percent in China and Hong Kong while Roche enjoyed a 30 percent hike. Novartis's sales increased by 24.8 percent, with generics revenue surging 27 percent. Little surprise then that pharmaceutical MNCs are stepping up their investment in China and other emerging markets to compensate for their losses in developed countries. (Click here for more - Chinese Language)
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