Novartis Leads MNC Generics Foray In China
This article was originally published in PharmAsia News
Executive Summary
Most major pharmaceutical corporations allocate little or no resources to generic drug development. Novartis is bucking the trend with its pioneering efforts in this area. The company sees great opportunities in generics: mounting difficulties in approval of new drugs are leading to a global decline in patented drug development and production, while governments worldwide are increasing the proportion of generic drugs in their medical insurance coverage. In China, 70 percent of the pharmaceutical market is dominated by generic drugs, most of which are produced by local enterprises. Novartis China acknowledges the challenges of higher production costs and will focus on the strategy of brandname, quality and services to gain recognition. (Click here for more - Chinese Language)