Low labor costs, availability of raw materials and the ambition for international recognition - these seem to be some of the ingredients of success for more than a few China-based pharmaceuticals companies. In the May 2009 edition of API/ Interphex China (page 37), interviewees of selected local companies reveal that they have expanded into overseas markets. For one, Feng Sheng Xi, deputy director of BYS tells us that export markets account for 20 percent of her company's product.
This trend has also been observed from the show which in the past has been predominantly China-centric and focused on domestic trading. With globalization, the needs of the industry are evolving and many exhibitors are now focusing on ways to sell their products to overseas markets.
The strengthening of Sino-India ties also seems to be another current trend. For example, India-based companies account for 30-40 percent of China-based, Qilu Pharmaceutical's exports.
According to Chirag Doshi, hon secretary, The Indian Drug Manufacturers' Association, about 60 percent of the global API supply comes from China.
For Asian pharmaceuticals suppliers that aspire to expand beyond domestic markets, adhering to Good Manufacturing Practice (GMP) guidelines is also necessary for attracting buyers from foreign lands.
On the other side of the world, western agencies such as the European Medicines Agency (EMEA) and the US Food and Drug Administration (FDA) are working towards ensuring GMP compliance via onsite inspections of drug manufacturing facilities in Asia.
It appears that the success of many Asian pharmaceuticals companies is heavily dependent on their ability to produce drugs that comply with international manufacturing standards. Already, many have obtained certification from various regulatory bodies and have moved beyond their domestic playing fields - and more can be expected to follow suit in the coming years.
Del.icio.us |
