First China Pharmaceutical Group, Inc. is focused on becoming a major force in the high growth pharmaceutical distribution sector in China, providing pharmaceutical products to drug stores, medical clinics and hospitals. As part of its business strategy, the company acquired the assets of Kun Ming Xin Yuan Tang Pharmacies Co. Ltd. (XYT), a profitable provincial pharmaceutical distributor offering approximately 5,000 health products.
China is arguably the most attractive emerging pharmaceutical market. By the end of 2013, it is forecasted that annual per capita spending will rise from $27.60 to $54.40. Key drivers of this growth are the introduction of universal health insurance, a booming economy, more chronic diseases, and an aging population. In less than a decade, annual pharmaceutical sales are anticipated to reach $132.7 billion.
First China Pharmaceutical Group holds a significant advantage over most of its competitors as it has acquired a “License of Internet Pharmacy Information Service” in Yunnan Province. This license enables the company to bypass municipal and county pharmaceutical distributors and provide products directly to its pharmacy, hospital and clinic customers. By bypassing these distributors, the company is able to achieve higher margins while providing pharmaceuticals at lower cost to its customers.
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