Sinopharm IPO Demand Underlines Chinese Pharmaceutical Growth

China's health care sector is forecast to see major growth in years to come on the back of the central government's long-term reform plan to heal the wounds of an inadequate medical insurance network, with a CNY850bn (US$124bn) cash injection. BMI's China team forecast that generic drug sales in China are set to climb to US$56.37bn in 2013, up from US$27.65bn in 2008. Supporting this view of a significant scope for growth, Sinopharm Group - China's largest distributor of pharmaceutical products - came to market on September 15 and was met with a wave of investor demand.

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