China, as the world’s second largest pharmaceutical market, has the annual sales of USD1.167 billion in 2016. However, western pharmaceutical companies have been difficult to gain a firm foothold in Chinese market. According to the analysis, the reason is that supervision has become the barrier to make foreign pharmaceutical companies have difficulties in selling the latest products in China. Deputy director of commerce Institute of international market research institute said, the strict supervision from China’s drug safety authority can protect pharmaceutical enterprises from possible risks, which is good for foreign enterprises, and they should realize it.
The recent report from foreign media said that the world’s large pharmaceutical companies are investing billions of dollars to develop new drugs, trying to overcome the diseases with high incidence in China, different from the West’s deadly disease. This action shows that the global large pharmaceutical companies have changed the old strategy of past few decades to sell existing products to China who has more than one billion people, and hope to deepen the Chinese business.