OTC Sales Fuel Growth At Guangzhou

Guangzhou Pharmaceutical Co, the largest medicine manufacturer andtrader in China, is predicting a sharp rise in sales when China opens its over-the-counter drug market in 1998.

The company's chairman, Che Minggang, said Guamgzhou'sproduction capacity and sales network would be expanded in order to seize the opportunity represented by both the opening of the OTC segment and the "increasing popularity of natural healing." Mr Che said that sales reached 2.8 billion yuan ($33.6 million), with turnover from retailing and trading rising 17%.

GPC was recently set up after a regrouping of 11 companies involved in Chinese medicines or western drug products, and currently markets products such as Bao Ji pills for gastrointestinal problems and Xiasangju Chongji for the treatment of sunstroke. 31 products are state-protected and the company has exclusive rights on 19 of them. GPC is also developing its own research center and expects to launch 30 more new drugs by 2000.