Pharmaceutical sector eyes 20% yearly growth

Updated: 2011-11-30 14:46


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BEIJING - China is likely to publish a plan before the end of this year for the development of its pharmaceutical industry during the 12th Five-Year Plan (2011-2015) to help realize 20 percent year-on-year growth in total output value, China Securities Journal reported Wednesday.

Wang Xuegong, an official with the pharmaceutical department of the Ministry of Industry and Information Technology (MIIT), said Tuesday that the planning also set a goal of 16 percent year-on-year growth in the added value of the industry during the period.

It requires that supplies of essential medicines see expanding and intensifying production scales. The top 20 major varieties of medicine are to take over 80 percent of the market share.

The planning also aims to integrate the industry to develop more than five enterprises with sales revenues exceeding 50 billion yuan ($7.84 billion), and the top 100 will generate over 50 percent of the industry's total revenue by 2015.

Medicine exports will also see annual growth of over 20 percent as more than 50 research and development centers or production bases will be built overseas.

Moreover, the country attaches importance to energy conservation in the pharmaceutical industry and expects declines of 18 percent and 30 percent in energy and water consumption, respectively, in per unit of added value compared to 2010.