Updated on 19 April 2013
The favourable business factors are attracting MNCs to make a beeline for China, with many firms drawing out long term plans for garnering a share of this growing market. However, the key determinant of success in this market will be affordable prices, and this will be the key challenge many that pharma MNCs will have to contend with while launching their products in the market.
Major Deals in 2013
Foreign MNC companies, have in recent times, shown extensive interest towards the Chinese market and this is evident from the fact that several major delas were signed between MNCs and Chinese firms in the beginning of 2013.
For example, Pfizer said in February that it will own 49 percent of a $295 million venture with Zhejiang Hisun Pharmaceutical to develop off- patent drugs in China, and Merck & Co. inked a deal with Nanjing-based Simcere Pharmaceutical to produce cardiovascular medicines. Also, multinational companies are also looking to shift their focus toward more innovative products that are partly researched and developed in China.