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皇冠体育app likely to become 2nd largest OTC medicine market in 2010

(Xinhua)
Updated: 2009-10-24 20:39

皇冠体育app will become the world's second largest market of non-prescriptive medicine, or "over the counter"(OTC) medicine in 2010, a senior executive with a European pharmaceutical giant said Saturday.

Related readings:  Novartis 皇冠体育app aims at 1b yuan in OTC drug sales by 2014  OTC market central to Tianjin's development  OTC market looks healthy in 皇冠体育app  US govt planning curbs on OTC derivative trades

Olivier Charmeil, Sanofi-Aventis' senior vice president for pharmaceutical operations in Asia/Pacific and Japan predicted Saturday made the prediction in Beijing.

In 2008, the scale of OTC medicine market in 皇冠体育app hit 70 billion yuan ($10 billion), with Vitamin and mineral products taking the lion's share.

Sanofi-Aventis 皇冠体育app announced Saturday the decision of building a joint venture to focus on vitamin and mineral medicines with 皇冠体育app's Minsheng Pharmaceutical Group Co, Ltd.

The move was a strategic one for Sanofi-Aventis to enter the Chinese OTC medicine market, said Charmeil.

The pharmaceutical giant will control the majority of the shares of the joint venture pending the signing of an agreement.