Pharmerging Markets: China – the Next Innovative Pharma Market?
China: what has perhaps become one of the most persistent words in everyday lives across the globe. Aside from being colossal in size, powerful and significantly richer than most countries today, China is also on the brink of monumental change, more than ever threatening to reshape the world’s economy. Having gained immense momentum from being the manufacturing hub of the world, China has now reached the natural growth limitations of its imitative economy, and is on the brink of a transition towards becoming a global innovator. The government has set sights on the pharmaceutical industry as the leader of this transformation: the latest set of China’s five year plans is so elaborately focused on revamping and innovating the domestic pharma industry, that it has been named as one of the greatest government R&D initiatives of all time.
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