ZURICH, May 23 (Reuters) - Novartis Chief Executive Vas Narasimhan said takeover targets in China for global pharmaceuticals companies are scarce due to little drug discovery by local firms, worries over data quality and regulatory standards in the most-populous country.
Narasimhan added he anticipates impending structural reforms in China, including for drug tendering, will free up $30 billion as the market shifts to international companies’ generic products. He aims for China to be Novartis’s No. 2 market, after the United States. (Reporting by John Miller; editing by Brenna Hughes Neghaiwi)