The implications of WTO Accession on the Pharmaceutical Industry in China

Yeung, G (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
    Additional Information: Published by Taylor and Francis
    Schools and Departments: School of Global Studies > Geography
    School of Law, Politics and Sociology > Sociology
    Subjects: H Social Sciences > HD Industries. Land use. Labour > HD0028 Management. Industrial Management
    H Social Sciences > H Social Sciences (General)
    Depositing User: Godfrey Yeung
    Date Deposited: 19 Sep 2006
    Last Modified: 30 Nov 2012 16:49
    Google Scholar:6 Citations

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