Drug firms need new prescription for export success

The overall slowdown in China's foreign trade is affecting the pharmaceutical industry as well, even as the sector faces the task of moving up the technology ladder and fending off competition from other global producers.

The nation's first-half exports of pharmaceuticals and medical equipment increased 7.1 percent to $25.14 billion, while imports reached $18.09 billion, up 15 percent.

"In the past six months, total foreign trade involving pharmaceuticals rose 10.28 percent, entering a long period of stable, slow growth," said Xu Ming, vice-chairman of the China Chamber of Commerce for Imports & Exports of Medicine and Health Products, on Thursday.