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Japan鈥檚 top drug firm Takeda expects China to be No.2 market in a decade
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JAPAN'S largest pharmaceutical company Takeda expects China to become its second largest market within 10 years as it steps up introduction of new products into China, company officials said.
Currently Takeda's sales in China mainly come from off-patent generic drugs but it will boost efforts to bring more innovative drugs to drive sales in the country, said Giles Platford, president of emerging markets unit at Takeda. China is estimated to become the world’s second largest pharmaceutical market next year.
Takeda plans to introduce at least three to four innovative medication into China in the next five years to broaden its product pipeline, Platford said in an interview with Shanghai Daily.
China is now Takeda's fourth largest market in terms of sales. Its global revenue was US$16.9 billion in the financial year ended March 31 this year.
Currently the company operates Shanghai Development Center to serve as a clinical trial facility for products that have been researched and developed outside China in order to get them approved by Chinese authorities.
It will also unveil a logistics center in Taizhou in neighboring Jiangsu Province within a few months, which will serve as a distribution facility for Takeda drugs imported mainly from Europe and Japan.
Asked about the relatively low profit margin of generic drugs, Platford said that since Takeda is a relatively late comer to the market, generic drugs will still be able to contribute to its sales through geographical expansion.
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