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Pharmaceutical MNCs’ China Growth Surpassed 20 Percent In 2008

This article was originally published in PharmAsia News

Executive Summary

Pharmaceutical MNCs in China delivered good performance in 2008, with growth hitting more than 20 percent. The revenues of GSK, AstraZeneca, Roche and Novartis increased 24 percent, 25 percent, 30 percent and 29 percent, respectively. GSK's prescription drug business jumped 30 percent, while Novartis' revenue hit RMB 2 billion, with six products surpassing RMB 100 million each. Industry insiders observe that although the absolute value of pharmaceutical MNCs' revenue in China only contributes 1 to 2 percent of their global revenues, these companies will all increase investment and expand their workforces in the country. This is due to the positive demand for medical consumption, expanding medical insurance coverage and the small base that makes sustaining high growth easier. (Click here for more - Chinese language)
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