Faced with declining prescription drug sales in the United States, and having lost patent protection for many profitable drugs, the drug industry is relying increasingly on new markets such as China and rapidly developing countries in Africa. That expansion, however, is often tainted by unsavory commercial practices.
The Economist Intelligence Unit estimates $166 billion in drug sales by 2017 in China, making the country a natural market for companies looking for further growth. In Africa, although the size of the market is still small, the rapid growth of many big cities offers interesting opportunities for development.
Pharmaceutical spending in Africa may reach $30 billion by 2016, from approximately $18 billion now. According to the World Health Organization (WHO) Africa has 11 percent of the world's population, yet accounts for 24 percent of the global disease burden.
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