Chinese Herbal Slice Industry In Dire Straits
This article was originally published in PharmAsia News
Executive Summary
The herbal slice industry in China, at 22.3 billion yuan or 15.5 percent of the national Traditional Chinese Medicine market in 2006, is in trouble. China's State FDA has reiterated that manufacturers without GMP authentication, or an estimated 70 percent of firms, are to shut down immediately. According to 2007 year-end statistics, only 288 out of 1,100 registered herbal slice firms have achieved GMP authentication, and 110 have undergone checks but are awaiting certification. While analysts did not expect product shortage or price hikes in the short term, the latest policy will further set back the development and internationalization of the industry, in which 60 percent of GMP authenticated firms are already barely making a profit. (Click here for more)