China's pharma and medical device exports slip 4 pct in first eight months - report
Shanghai. October 16. INTERFAX-CHINA - China exported pharmaceutical and medical device products valued at a total of $20.49 billion in the first eight months of 2009, down 3.85 percent on an annual basis, according to a China Chamber of Commerce for Import and Export of Medicines and Health Products (CCCMHPIE) report on Oct. 15.
According to the report, active pharmaceutical ingredient (API) exports totaled $10.75 billion, marking a decline of 12.10 percent year-on-year from January to August this year due to a sluggish global economy. On a positive note, exports of some APIs including vitamin C, erythromycin, and heparin sodium are already showing signs of rebound.
On the whole, medical device manufacturers fared better in the period, exporting $7.25 billion worth of medical devices, up 4.43 percent year-on-year. In particular, exports of stomatological equipment and consumables grew by 25 percent on an annual basis.
The report also noted that biopharmaceutical exports maintained good growth momentum, recording an export value totaling $845 million in the first eight months of this year, up 52.78 percent year-on-year.
The United States, Japan, India, Germany and South Korea were the five largest export destination countries for Chinese pharmaceutical and medical device products during the period, accounting for 46 percent of total exports.
While pharmaceutical and medical device exports are expected to gradually rebound in the following months, their total export value in 2009 is expected to be lower than in 2008 given that major export destination countries are slow to recover from the global business downturn, the report said.