Here's a good post from Patricia Arnum in the PharmTech Talk blog.
It notes the large amount of funding that the domestic Chinese pharma companies have been able to raise through IPOs in the past 10 months - more than $5 B. This compares quite favorably to the $1.7 B in IPO funding the US pharma companies have raised in the past 18 months.
The gist of the post is that with this type of funding engine building, the Western pharma companies shouldn't underestimate the degree of competition they may receive in the Chinese domestic market. The projected 23-26% growth figure that is tossed out by IMS Health estimates may not be there for the plucking solely by Western companies.
Competitors could be in for a Long March.
Posted by Bruce Lehr July 21st 2010.