China seems destined to become the world’s biggest pharmaceutical market; however, whether the profits multinational corporations (MNCs) realize will be similarly attractive remains very much in doubt.
In 2011, the top ten MNC pharmaceuticals selling into China generated well over $20 billion in sales within China. Growth rates for these ten MNCs in China ranged from 15-32 percent, with average growth greater than 27 percent.
China is not only one of the world’s fastest growing markets for both prescription and over the counter drugs; it is already the third largest. Yet for all the excitement surrounding the growth potential for companies such as Pfizer and GlaxoSmithKline , both of whom have made major moves to re-orient sales’ resources away from developed economies towards China, questions remain about whether MNCs can be successful long-term within the country.
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