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China to Build Pharmaceutical Conglomerates
China is planning to build a dozen big pharmaceutical firms on par with the world's leading drug producers, a senior government official disclosed on May 9. The move is aimed at sharpening the competitive edge of China's lumbering pharmaceutical sector in the international market, said Yu Deming, director of the pharmaceutical department under the State Economic and Trade Commission (SETC) at the ongoing Fourth Beijing Biotechnological and Pharmaceutical Forum. He said that after three to five years, these enterprises will play an significant role in the domestic and international medical arena.
Yu, who is in charge of reform and developing China's pharmaceutical industry, noted that in the next five years, the SETC has hammered out a target to make China's pharmaceutical enterprises not only major producers but also important technology developers in the world.
There are 6,300 pharmaceutical firms in China, Yu said, but many are small and lack a competitive edge.
The pharmaceutical giants will be granted priority for technical renovation, research and development in both the domestic and international markets, according to the official. During China's Tenth Five-Year Plan (2001-2005) period, the pharmaceutical industry will focus on developing traditional Chinese medicine, he said.
Another key project in the pharmaceutical industry is to develop biological engineering, Yu emphasized. China has set up 200 research institutes on biotechnology and 140 enterprises are engaged in related development and production.
Chinese pharmaceutical enterprises should also strengthen cooperation with their overseas counterparts, said Yu.
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