Large pharma firms moving into China
The Chinese market is attracting large pharmaceutical companies looking to market western medicine to the Chinese and interested in researching traditional Chinese medical treatments:
"China pioneered drug development. Chinese medicine offers a vast catalog of herbs that proponents claim has undergone trial-and-error testing for two millennia.
For the most part, though, Big Pharma faces little real competition from China’s homegrown pharmaceutical industry, hobbled as it is by a lack of funding and an underdeveloped infrastructure.
Large Western pharmaceutical companies are not content just to outsource research and development, drug screening, and testing to China. Offshoring has accelerated in the last year, too: Novartis, Pfizer, and Roche have all launched new R&D facilities in Shanghai. Pfizer China, headquartered in Shanghai, now employs some 1,500 across China. The global drug giants also want in on what will be, if current trends continue, one of the five largest drug markets in the world by 2010."
"China pioneered drug development. Chinese medicine offers a vast catalog of herbs that proponents claim has undergone trial-and-error testing for two millennia.
For the most part, though, Big Pharma faces little real competition from China’s homegrown pharmaceutical industry, hobbled as it is by a lack of funding and an underdeveloped infrastructure.
Large Western pharmaceutical companies are not content just to outsource research and development, drug screening, and testing to China. Offshoring has accelerated in the last year, too: Novartis, Pfizer, and Roche have all launched new R&D facilities in Shanghai. Pfizer China, headquartered in Shanghai, now employs some 1,500 across China. The global drug giants also want in on what will be, if current trends continue, one of the five largest drug markets in the world by 2010."
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