Growth in hospital drug sales slowing in China
A joint report published by McKinsey & Co. and the Science and Technology Development Center of the Chinese Pharmaceutical Association (DCSTCPA) said pharmaceutical sales in Chinese hospitals grew by 14% from 2013 to 2014, continuing a downward trend in growth; the market's compound annual growth rate between 2009 and 2013 was 19%.
The report said oncology drug sales in Chinese hospitals increased at a CAGR of 17% from 2012 to 2014, down from 22% between 2010 and 2012. The authors said the decline was in line with an "overall market slowdown." Growth in sales of targeted therapies was also down significantly (17% growth from 2012-14 versus 27% from 2010-12). The authors attributed the slowing growth in hospital sales of targeted therapies to the introduction of generics, particularly generic Gleevec imatinib, and increased use of pharmacies and patient assistance programs. ...