Shanghai Pharma Leads China's Drug Market with $37 Billion Revenue

Shanghai Pharmaceuticals is the biggest drug importer in China and the second largest distributor of pharmaceuticals. Shanghai Pharmaceuticals generates $37 billion in total revenue and produces medications for cancer, diabetes, cardiovascular diseases, and more.

The company is eager to import active pharmaceutical ingredients (API) from India and also intends to invest in the Indian market to broaden its presence in the generic drugs sector. The initiative arises during attempts by New Delhi and Beijing to restore their bilateral relations following four years of friction at the Line of Actual Control (LAC).

“We want to import APIs from India. In a supply chain, globalisation is not only for one country … I believe most of the (pharma) companies in India produce very good quality APIs. In India, more and more APIs are getting FDA approval, so we are now thinking of importing APIs from India,” Li Dongming, Vice-President, Shanghai Pharmaceuticals Holding Co. Ltd, told ABP Live.

He also said, “We want APIs from India because of its quality. We plan to place the orders soon. India is a developing market. If we have the right kind of opportunity we will invest in India.”

Li mentioned that the firm is negotiating with Indian pharmaceutical giants like Sun Pharma, Lupin, Aurobindo Pharma, and others. Amid the Covid-19 Delta surge, Shanghai Pharmaceuticals shipped large amounts of APIs to India.