The implications of WTO accession on the pharmaceutical industry in China

Yeung, Godfrey (2002) The implications of WTO accession on the pharmaceutical industry in China. Journal of Contemporary China, 11 (32). pp. 473-493. ISSN 1067-0564

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Given the limited capabilities of R&D and global distribution channels, and the virtual non-existence of patented drugs, the Chinese pharmaceutical industry has little chance to enter the global market of Western prescription drugs and compete with the established global giants head-on. The reality is that they are chasing a moving target and their competitors are becoming bigger and stronger day by day. The substantial reduction of import tariffs and the granting of comprehensive trading and distribution rights to foreign-financed firms following WTO accession, effectively tilted the level-playing field against the Chinese pharmaceutical industry. Given the short-term competitive advantages of the Chinese pharmaceutical industry on Chinese drugs, three development strategies are suggested: (1) consolidate the local market of herbal and generic drugs; (2) market Chinese drugs via the Internet; and (3) outsource R&D and collaborative marketing.

Item Type: Article
Schools and Departments: School of Global Studies > Geography
Subjects: G Geography. Anthropology. Recreation > G Geography (General) > G0001 Geography (General)
Depositing User: Godfrey Yeung
Date Deposited: 06 Feb 2012 15:18
Last Modified: 14 Sep 2012 09:01
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