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April 17, 08

NEWS / COMMERCE UNDER SECRETARY TO LEAD HEALTH CARE MISSION TO CHINA


Washington – Today, U.S. Department of Commerce Under Secretary for International Trade Christopher A. Padilla announced he will lead 15 U.S. companies on a Health Care Mission to Beijing, China, April 23-25. Participants from a broad range of health care industries – including pharmaceutical, medical device, health insurance and health services – will have an opportunity to discuss China’s health care reform policy with senior Chinese Government officials.

“China is a fast-growing market for the U.S. health care industry, known for its world-class goods and services. U.S. industry has the potential to raise the standard of medical care in China,” said Padilla. “China’s pending health care reforms will affect many American companies doing business in that market, or seeking to do so. A clearer understanding of China’s policy environment will enable the U.S. health care industry to more easily compete in China, raising the quality and efficiency of medical treatment there.”

Fifteen representatives from various health care-related companies will join Padilla for the mission. These companies are AdvaMed; Advanced Medical Optics; Aetna, Inc.; BlueCross BlueShield; Boston Scientific; Chindex International, Inc.; Humana, Inc.; Johnson & Johnson; Masimo; Medtronic, Inc.; Mesa Laboratories, Inc.; Merck; Pfizer Inc.; RDPAC; and Stryker Corporation.

The visit will take place at a time when China is considering significant changes to the financing, regulation and management of its health care system. Participating U.S. companies will have the opportunity to discuss these pending health care reforms with key officials from the Ministry of Health, Ministry of Finance, the State Food and Drug Administration, and others.

The U.S. pharmaceutical industry exported $346 million to China in 2006, a 54 percent increase over 2005 and a 305 percent increase over 2003. In 2007, according to industry, U.S. medical device exports to China were $870 million, a 29 percent increase over 2005 and a 71 percent increase over 2003.

For additional information regarding the Health Care Mission to China, please visit: http://www.ita.doc.gov/doctm/china_health_0408.html.

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