Can An Elephant Crack China’s Bamboo Ceiling For Generics?
Among the many challenges facing foreign generics firms operating in China, dealing with ever-tightening policies and regulations is probably the toughest, and has already forced several multinationals to quit the market. But one Indian joint venture is looking to effectively exploit targeted niche opportunities.
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China Medical System has agreed to pay a total of $500m for selected rights to two mature AstraZeneca PLC cardiovascular products, with the divestments set to provide new growth prospects for the Chinese firm while helping the UK-based multinational focus on innovative products in its second-largest global market.
Once hailed as the model for global going local in China, a joint venture created merely three years ago between Merck and Simcere has quietly faded into history. Does the move signal that the JV model is not working in China?