Part 1: Most big drug makers already trade in China, but succeeding in what will soon be one of the world’s largest markets is very difficult.
China has two key attractions: A huge population that is gradually becoming more affluent as economic regeneration and urbanisation reshape the region; and a strong biopharmaceuticals sector. However, any foreign pharmaceutical company investing there faces considerable risks.
The Chinese government has been slow to enforce the international rules on intellectual property rights; some of its health reforms could end up depressing drug prices; and the drug distribution system is controlled by middlemen. Even so, the potential rewards are substantial for those companies that treat China as an integral part of their global business strategies.
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