Guild signs top level MOU with Chinese pharmacy leaders
The importance of the burgeoning Chinese market to the Australian complementary medicine and pharmaceutical markets has been ratified with the signing of a top-level agreement between the nations’ pharmacy groups
The Pharmacy Guild of Australia signed an historic Memorandum of Understanding with a Chinese counterpart – the China Medical Pharmaceutical Material Association (CMPMA) and the CMPMA non-drug committee.
CMPMA is the largest pharmaceutical retail chain association in China.
The event took place at the recent Australia-China Complementary Health Products Expo 2016 in Melbourne
A Guild source told AJP that there were around 400 Chinese pharmacy owners at the event, representing between them a total of around 180,000 pharmacies.
A spokesperson for the Guild said the MOU was a way of establishing top-level relationships between Australian and Chinese pharmacists, a vital step at a time when the Chinese market is receptive to Australian products.
“A lot of our members, as well as the leading pharmaceutical wholesalers, are very serious about their relationships with China. The interest in Australia among the Chinese pharmacy owners at the event was palpable, so we see this as a way of formalising links with this vital market,” the spokesperson said.
The move has generated some negative social media feedback, although the Guild spokesperson said the MOU was not a precursor to the Guild actually playing a commercial role in Australia-China sales.
“The signing was really a formal move to solidify business to business links between the Australian and Chinese pharmacy sectors.”