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Management of Chinese materia medica market based
on information asymmetry
YANG Guang1,2, WANG Nuo3*, GUO Lan-ping2, WANG Yong-yan1,2, HUANG Lu-qi2, LIU Jin-xin1
(1.College of Resources Science & Technology, Beijing Normal University, Beijing , China;
2.National Resource Center for Chinese Materia Medica, China Academy of Chinese Medicinal Sciences, Beijing , China;
3.School of economics and Resource Management, Beijing Normal University, Beijing , China)
[Abstract] Pharmaceutical market is a typical market with information asymmetry, and which can lead to "lemons" problem. In all developed countries, firms must receive regulatory approval to market a pharmaceutical product. Such administrative department including SFDA,EMA,FDA and so on. Chinese materia medica is a special part of pharmaceutical market in China. The management of Chinese materia medica is a special challenge in China.
[Key words] information asymmetry; pharmacopoeia standards; drug safety TCM administration; third-party certification
doi:10.4268/cjcmm