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Pharmaceutical R&D in China

Pharmaceutical R&D in China

China is set to become one of the biggest economies by 2020, courtesy its expansion in diverse sectors ranging from trading to manufacturing. This presentation focuses on the growth of the pharmaceutical R&D market in China, reasons for this growth and the outcome of the same for the Chinese economy.

The pharmaceutical market has long been dominated by the US and Western Europe for years now. However with the advent of time, a new player is slowly and steadily capturing the market. China is currently the third largest pharmaceutical market in the world and is all set to replace Japan as the second biggest player by 2015. The pharmaceutical market in China grew by 25 – 27 percent in 2011 to a value more than $50 billion. So, how can a country whose R&D operations were once controlled by domestic manufacturers focusing on copycat drugs, now attract more and more MNC’s to invest in its market?

One of the issues previously facing China in it’s pursuit of more third party pharma research dollars was the transparency of qualification and certification data.  Getting local systems up to Western standards has been a strong push for local administration and industry experts over the last decade and it’s starting to pay dividends.   While it’s still far too early to tell if China will become a leading hub for fundamental pharmaceutical research, it’s not quite clear that the infrastructure is now in place to allow China to become an efficient and effect lower cost source for clinical trials and early stage screening and testing.   Much of this work is being handled by independent labs and coordinated by other third part vendors who specialize in finding the right resource to execute the trials and then managing that work for the larger pharma customers. …Read more