GCC Member States Sell Drugs worth $5.6 Billion in 2010

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According to the China Drying Network News, the member countries of the Gulf Cooperation Council (GCC) in 2010 will sell drugs worth 5.6 billion U.S. dollars. By 2020, this figure will increase to 10.8 billion U.S. dollars. The GCC members include Saudi Arabia, UAE, Kuwait, Bahrain, Qatar and Oman.

The report said that 80% of the drugs in the GCC countries come from imports. Although these countries have sought to encourage local manufacturers to engage in the production of pharmaceuticals, efforts to localize pharmaceutical production have made little progress because local residents have favored international brands and local pharmaceuticals have been priced higher than international standards.

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