According to Edelweiss analyst, DRL has seven to eight products awaiting approval from the Chinese drug regulator and it expects to increase the number of filings.
China is the world’s second-largest single country pharma market after the US and according to estimates around 25 per cent of the drugs by value to Chinese hospitals are supplied by companies
outside of the country.
China is undergoing some market-friendly reforms, which will expedite the generic approval timelines.
Approvals, typically used to take around seven to eight years in China. However, now the government is looking at speeding up the process. Thus, approvals for companies
from outside China have increased in the recent months, say analysts.
DRL had launched generic Clopidogrel in the US market with its partner Mylan in March 2012 after the patent for Sanofi-Aventis’ Plavix expired. Plavix was one of the best selling drugs in the US and during the patent period, the drug roughly had an annual sales of around $6.7 billion.