But doing business in the world's most populous country is not without risk. China's regulators have been investigating several foreign and domestic drug companies on suspicion of bribery, with the most high profile investigation involving Britain's GlaxoSmithKline.
China is of particular focus for Nike Air Max Thea Black And White Tumblr deal hungry international healthcare firms. Pharmacy chain Alliance Boots plans to take a 12 percent stake in distributor Nanjing Pharmaceutical Co Ltd , while Medtronic Inc purchased China Kanghui Holdings in 2012.
FRANKFURT, Feb 27 (Reuters) Bayer said it would buy privately held Dihon Pharmaceutical Group Co, a maker of traditional herbal Chinese medicines (TCM), as the German drugmaker pushes to become the world's largest non prescription medicines group.
The deal, which could help Bayer challenge Johnson Johnson to the No. 1 spot in the over the counter (OTC) market, underscores its push into herbal medicine after it bought smaller German supplier Steigerwald last year.
urban communities in the West, Bayer said it was too early to say whether Dihon products would be exported to Germany or Europe.
Dihon has about 2,400 employees and generated sales of 123 million euros ($168 million) Nike Air Max Tavas Toronto
"What's growing the most within Chinese healthcare is traditional medicine. It's a strong part of their culture," said Lilian Montero, a healthcare analyst at Swiss bank Julius Baer.
The country's consumer health and wellness market is expect to hit almost $70 billion by 2020 as increasing numbers of consumers turn to health supplements and OTC health treatments, according to a recent report from Boston Consulting Group.
"Local companies tend to show superior growth in emerging markets. It's a good move from that point of view."
Bayer buys Dihon to add traditional Chinese medicine
in 2013, Bayer said on Thursday. Warburg estimated it was worth about 500 million euros ($680 million).
spending forecast to nearly triple to $1 trillion by 2020 from $357 billion in 2011, according to consulting firm McKinsey, the country is a magnet for makers of medicines and medical equipment, but many patients remain strongly attached to traditional approaches.
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"It's less likely that these products will move to the West," said Julius Baer's Montero. "You would need a lot more medical training and education, otherwise it will stay a niche market like homeopathy."
The fragmented OTC market is gearing up for more consolidation, with Merck Co Inc's consumer healthcare business drawing interest from Bayer and Novartis .
Dihon's products include dandruff treatments, antifungal creams and medicine against gynaecological conditions such as endometriosis.
Even though TCM is winning a following in some Nike Air Max Tavas Red Womens
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