Fitch: Margin Pressure and Consolidation for China's Pharma Distributors

(The following statement was released by the rating agency)

Link to Fitch Ratings' Report: China Pharmaceutical Distributors

and Retail

Pharmacies Blue Book

https://www.fitchratings.com/site/re/888932

SHANGHAI, November 23 (Fitch) Intensifying competition, stricter

regulations and

declining drug prices will pressure the margins of Chinese

pharmaceutical

distributors, while rising labour and rental costs will

constrain retail

pharmacy profitability, leading to further consolidation of the

hig

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