Report: Pharma is a big part of China's health care expansion

04/21/2013 | BioSpectrum Asia

Pharmaceuticals, medical technology and related fields will constitute 10% of China's rapidly rising health care expenditures this year, according to a report by the consulting firm KPMG, up from 6% last year. China is increasing the number of reimbursable drugs from 205 to 520 and expanding its national medical insurance to cover 20 new serious illnesses, including various types of cancers, leukemia and type 1 diabetes. Pfizer has already announced a venture with Zhejiang Hisun Pharmaceutical to develop off-patent drugs in China, while Merck plans to market cardiovascular drugs with Simcere Pharmaceutical.

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