Sandoz Targets RMB 10 Billion China Revenue Within Five Years

During a recent visit to China (PharmaAsia News, Mar. 16, 2009), Sandoz's CEO Jeff George disclosed that global generic drugs will grow annually at 9 percent from 2008 to 2013, while Asia's yearly increase will hit 12 percent. China, spurred by its health care reform, will become the world's second-largest generics market by 2012, with a compound annual growth rate of 14 percent. Eying this opportunity, Sandoz is targeting a revenue of RMB 10 billion for China by 2012, and aims to become among the top three industry manufacturers in the country. The company will accelerate introduction of drugs into China as well as enlarge its operations by M&A or production expansion. (Click here for more - Chinese Language)