| By Daisy Wang, Asia Manufacturing Pharma |
| Monday, 19 January 2009 |
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A global economic depression is expected to hit the American and European pharmaceutical sectors hard and its influence on China’s pharmaceutical manufacturers is likely to be seen next March or April, said Zhou Xiaoming, president of the China Chamber of Commerce for Import & Export of Medicines & Health Products (CCCMHPIE). |
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Zhou recently revealed that fundamentals in China’s pharmaceutical sector remain robust, with exports of drugs and other healthcare products maintaining rapid growth during the first 10 months of 2008. It is the only Chinese sector that has seen growth of more than 30 percent in foreign trade this year, Zhou added. |
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The sector’s exports for the first 10 months of 2008 increased 35.2 percent year on year to US$26.8 billion, with exports of both Western medicines and medical equipment increasing more than 30 percent.
Drugs made in China were for the most part exported to Europe, North America and other Asian countries over the first 10 months of this year, with exports to the three regions reaching US$7.7 billion, US$5.5 billion and US$10.4 billion, up 38.1, 37.0 and 28.3 percent, respectively.
Despite the robust growth, the sector is now faced with a range of challenges, including the global financial crunch and Chinese manufacturers’ goodwill and product quality crises, said insiders. |
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International analysts, however, remain upbeat about the prospects for the Chinese pharmaceutical sector.
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