China Resources Pharmaceutical Group Is the Third-Largest Medical Distributor in China

The revenue of China Resources Pharmaceutical Group grew at a compounded annual growth rate of 10.4% over the past 10 years. The growth is driven by its medical distribution segment due to industry consolidation and industry expansion. Similar to other larger pharmaceutical distributors, CR Pharma, in our view, is likely to grow faster than the distribution industry average in the next three years as the industry consolidates further.