BIIP predicts 40% external sales by 2008

Chinese drugmaker Broad Intelligence International Pharmaceutical says it expects overseas sales to account for 40% of its turnover in two years time. The firm's forecast is based on its expansion of its over-the-counter drug sales in Japan and other Asian markets.

The firm, which currently derives the majority of its income from the sale of drugs to hospitals and clinics in its home province of Fujian, believes that it could generate 100 million renminbi ($12.4 million) a year in sales from the Japanese OTC market. The firm added that non-Chinese sales would contribute more to its income due in part to the higher drug prices outside the country.

BIIP's chairman, Zhong Houtai, said that the company had seen increased demand for traditional Chinese medicines in Japan, particularly in the drink-related liver disease market, which would be suitable for the firm's anti-hepatitis remedies.