CPhI Points To Increase Growth For China

A new analysis indicates that China will continue to grow in 2019/2020. CphI Online released an article titled, CPhI China opens with analysis pointing to a surge in growth in 2019, indicating that reform has been a key driver in China’s industry. 

“The country’s reputation improved year-on-year across ‘API production’ (10.79%) and ‘Finished Product Manufacturing’ (13.74%), suggesting that industry efforts to align standards closer to European and FDA standards have clearly been recognized. The elevated change in overall perception is believed to be in reaction to rigorous reformation efforts by the National Medical Products Administration (NMPA – formerly the CFDA) and the substantial improvement in quality in the last 5 years, as well as the growing domestic opportunity and pharma industry.” States the article. 

Marie Lagrenée, a brand manager at CPhI China, commented that the event is growing in both numbers and exhibitions. This is due to the increase in the domestic biotech industry. In response, they are increasing more content that’s internationally focused. CPhI sees more than 50,000 guests, visiting from over 120 countries and is expected to be the largest international event to date. 

“It is an extremely dynamic time for pharma in China with the reformation and the realignment of the NMPA evidently paying dividends when it comes to China’s reputation internationally. With an increasing number of international pharma companies opting to use Chinese CDMOs or exploring new business opportunities within the country, I anticipate the growth of the Chinese economy to continue to be exponential. We look forward to an extremely vibrant event and an even more booming year for Chinese pharma,” commented Lagrenée.

Check out the article here to read more.