China's pharma production value up 26 pct Jan - Jul
Shanghai. August 27. INTERFAX-CHINA - The production value of China's pharmaceutical industry for the first seven months hit RMB 643.16 billion ($94.58 billion), up 25.74 percent from a year earlier, according to National Development and Reform Commission (NDRC) figures released Aug. 25.
The production value of active pharmaceutical ingredients (API) and chemical drugs for the period stood at RMB 327.02 billion ($48.09 billion), up 21.45 percent from the previous year.
Finished traditional Chinese medicine (TCM) production value amounted to RMB 138.60 billion ($20.38 billion), up 27.42 percent.
Biopharmaceutical production value grew by 35.28 percent to hit RMB 71.43 billion ($10.50 billion), while the production value of medical devices reached RMB 62.08 billion ($9.13 billion), up 20.76 percent year-on-year.
East China saw growth of 23.27 percent on the previous year, while the central and western regions clocked growth of 31.25 percent and 26.60 percent respectively, according to the figures.
The 25.74 percent growth rate for the first seven months is slightly lower than the 25.99 percent increase for the first half due to some manufacturers conducting maintenance work on production facilities during the summer. However, the 25.74 percent growth rate was higher than the 17.33 percent seen in the same period last year.
The production value of China's pharmaceutical industry is expected to grow faster during 2010 and 2011 due to the health care reforms and increasing demand. However, growth could slow if the government fails to press ahead with reform, Zhao Bing, pharmaceutical analyst from Shanghai Securities Co. Ltd., told Interfax last month.