China's sheer size an attraction for pharma industry, but there are also problems
China has maintained its fourth place in the Pharmaceutical Business Environment Ratings matrix for the 15 key markets in the Asia Pacific region from Business Monitor International. Globally, the country is placed 18th out of the 71 nations surveyed worldwide, indicating its vast potential.
Key attractions are its sheer size and the improvement of its economic and health care systems, although it is let down by, among other factors, rampant pharmaceutical piracy, substandard quality, bureaucracy and a poor legal framework. Nevertheless, regulatory improvements have occurred, including the recently implemented Green Channel approval for drugs that fulfil certain criteria - which is intended to improve access to innovative medicines.
Will soon out-value France and Germany
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