China's pharmaceutical production value up 17.33 pct in first seven months of 2009
Shanghai. August 31. INTERFAX-CHINA - The production value of China's pharmaceutical industry totaled RMB 511.74 billion ($74.92 billion) from January to July this year, up 17.33 percent against the same period last year, according to National Development and Reform Commission (NDRC) statistics released on Aug. 28.
In the first seven months of this year, the production value of active pharmaceutical ingredients (API) and Western medicines amounted to RMB 271.14 billion ($39.70 billion), up 14.15 percent year-on-year. The production value of finished traditional Chinese medicines hit RMB 112.09 billion ($16.41 billion), up 18.45 percent year-on-year while the production value of biopharmaceuticals grew by 21.95 percent on an annual basis to RMB 48.04 billion ($7.03 billion).
During the period, the value of pharmaceutical products produced in central China, western China and eastern China grew by 19.28 percent, 19.45 percent and 16.07 percent respectively on an annual basis.
In July alone, the total production value of the pharmaceutical industry reached RMB 77.96 billion ($11.41 billion) as compared with RMB 88.80 billion ($13.00 billion) in June this year.
"Pharmaceutical companies suspend or cut production during the summer months in order to carry out equipment maintenance and repairs and typically restore operation in August or September. Market demand after September is expected to be stronger and production value may grow faster later this year," Ba Yanfeng, a pharmaceutical analyst from Healthoo.com, told Interfax on Aug. 31.
The NDRC figures also showed that production value of medical devices reached RMB 51.21 billion ($7.50 billion) in the first seven months of this year, up 20.57 percent year-on-year.