The Chinese generic market is a cake that is sour and sweet for foreign pharmaceutical companies. On the one hand, China is the largest generic medicine market in the world. On the other hand, foreign pharmaceutical companies are also faced with the problem of basic drug bidding. However, this still can not stop the pace of foreign pharmaceutical companies to enter the Chinese market.
Following the acquisition of Guangdong Beikang Pharmaceuticals last month, AstraZeneca invested US$230 million (approximately RMB 1.45 billion) in setting up the world's largest independent production base in Taizhou, Jiangsu Province. It will mainly produce branded generic drugs. And this cake is not limited to AstraZeneca. At present, many foreign pharmaceutical companies such as Pfizer, GlaxoSmithKline, and Novartis are actively planning.
The global generic pharmaceutical market has exceeded US$130 billion
It is reported that in 2011 the global generic pharmaceutical market has exceeded US$130 billion. In the past 10 years, the global generic market has grown more than twice as fast as patented drugs. In the next few years, it will be the peak period for the expiration of pharmaceutical patents. It is estimated that between 2011 and 2015, 77 billion US dollars worth of patented drugs will expire. This huge market has enabled many foreign drug companies, mainly new drugs, to start re-adjusting their strategic plans.
Although China is the world's largest generic market, this cake is sour and sweet for foreign drug companies. Under the new medical reform policy, China will increase its support for primary medical institutions, which will greatly stimulate the market demand for high-quality and inexpensive generic drugs. According to IMS Health Consulting, the annual growth rate of China's generic drugs will exceed 25%.
Huang Bin, executive director of AstraZeneca's drug administration affairs and branded generic drugs, said that foreign companies are indeed faced with the problem of basic drug bidding, but this mainly depends on the degree of the company's affordability to the price. If the price is reduced by reducing costs, foreign companies can also seize the market.
Acquisition of a local small drug company into a strategic focus
Acquiring Chinese small pharmaceutical companies is conducive to quickly obtaining product marketing licenses, and can also quickly enter the existing market. AstraZeneca said it will acquire a small pharmaceutical company in China to enter into generic drugs. AstraZeneca has recently signed an acquisition agreement with Guangdong Beikang Pharmaceutical Co., Ltd., a privately-owned generic pharmaceutical manufacturer in Guangdong Conghua, to combat the production and sales of infectious drugs.
Measures to build production bases and acquire Chinese small and medium pharmaceutical companies are more than just adopted by AstraZeneca. According to the data from the China Association of Enterprises with Foreign Investment (DICA) Pharmaceutical Development and Development Industry Committee (RDPAC), more than 70% of the 37 member companies under the association have set up factories in China and the number of factories has reached 50. In terms of mergers and acquisitions cooperation, Novartis Pharmaceuticals has signed a strategic agreement with Huahai Pharmaceuticals. The main direction of cooperation is patent expired drugs; Pfizer also established a joint venture with Zhejiang Hisun Pharmaceutical, with a total investment of 295 million U.S. dollars. The company is positioned to produce branded generics.
Following the acquisition of Guangdong Beikang Pharmaceuticals last month, AstraZeneca invested US$230 million (approximately RMB 1.45 billion) in setting up the world's largest independent production base in Taizhou, Jiangsu Province. It will mainly produce branded generic drugs. And this cake is not limited to AstraZeneca. At present, many foreign pharmaceutical companies such as Pfizer, GlaxoSmithKline, and Novartis are actively planning.
The global generic pharmaceutical market has exceeded US$130 billion
It is reported that in 2011 the global generic pharmaceutical market has exceeded US$130 billion. In the past 10 years, the global generic market has grown more than twice as fast as patented drugs. In the next few years, it will be the peak period for the expiration of pharmaceutical patents. It is estimated that between 2011 and 2015, 77 billion US dollars worth of patented drugs will expire. This huge market has enabled many foreign drug companies, mainly new drugs, to start re-adjusting their strategic plans.
Although China is the world's largest generic market, this cake is sour and sweet for foreign drug companies. Under the new medical reform policy, China will increase its support for primary medical institutions, which will greatly stimulate the market demand for high-quality and inexpensive generic drugs. According to IMS Health Consulting, the annual growth rate of China's generic drugs will exceed 25%.
Huang Bin, executive director of AstraZeneca's drug administration affairs and branded generic drugs, said that foreign companies are indeed faced with the problem of basic drug bidding, but this mainly depends on the degree of the company's affordability to the price. If the price is reduced by reducing costs, foreign companies can also seize the market.
Acquisition of a local small drug company into a strategic focus
Acquiring Chinese small pharmaceutical companies is conducive to quickly obtaining product marketing licenses, and can also quickly enter the existing market. AstraZeneca said it will acquire a small pharmaceutical company in China to enter into generic drugs. AstraZeneca has recently signed an acquisition agreement with Guangdong Beikang Pharmaceutical Co., Ltd., a privately-owned generic pharmaceutical manufacturer in Guangdong Conghua, to combat the production and sales of infectious drugs.
Measures to build production bases and acquire Chinese small and medium pharmaceutical companies are more than just adopted by AstraZeneca. According to the data from the China Association of Enterprises with Foreign Investment (DICA) Pharmaceutical Development and Development Industry Committee (RDPAC), more than 70% of the 37 member companies under the association have set up factories in China and the number of factories has reached 50. In terms of mergers and acquisitions cooperation, Novartis Pharmaceuticals has signed a strategic agreement with Huahai Pharmaceuticals. The main direction of cooperation is patent expired drugs; Pfizer also established a joint venture with Zhejiang Hisun Pharmaceutical, with a total investment of 295 million U.S. dollars. The company is positioned to produce branded generics.
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