The announcement by Eisai to pull back in the US and refocus on East Asia came as no surprise as markets such as China continues to grow while renewal takes place in Japan. As the saying goes, “there’s no place like home”, the “enormous potential” of East Asia, quoted by Eisai CEO Haruo Naito, means the Japanese drugmaker will now look to grow sales in Japan, Korea, China, Hong Kong and Taiwan to account for more than their current 60% of Eisai’s revenues. Japan in particular, “was mature and stagnating,” Naito said to Financial Times, but now it “is growing again and becoming more attractive.”
Japanese government is now cutting prices at a slower pace than in recent years and is also trying to streamline its regulatory process to get new drugs onto the market faster. This has been a boom to the Japanese drug market which has been notorious for its “drug lag,” which often kept foreign products off the market for years after they launched in the U.S. or Europe. These changes have also attracted interest from western drugmakers as well. Big Pharma companies such as Eli Lilly are now placing more emphasis on the Japanese market.
Eisai won’t completely leave Western markets it will definitely not expand in the short term in Europe and the US. This could open doors to other Japanese drugmakers such as Daiichi Sankyo and Takeda Pharmaceuticals. One thing’s for sure, the verdict of Eisai’s decision on pharmaceutical industry in Japan, East Asia and the rest of the world remains to be seen.
Want to find out what does this mean to the pharmaceutical industry? Why not find out from the senior level representatives from Eisai yourself? Dr Stewart Geary, Vice President, Dy Dir Corp Regulatory Compliance & Quality Assurance will speaking on “Panel Discussion: Optimizing your partnership collaboration for outsourcing preclinical studies in Asia” and “Preclinical safety analysis of innovative drugs: Determining clinical safety in preclinical studies” at Pre-Clinical World Asia 2012 during our 5th annual BioPharma Asia Convention 2012.
Dr Jeffrey Kasher, Vice President of Eli Lilly and company will also be speaking on “Forging open partnerships between Pharmas and Biotechs to foster increased innovation in Asian clinical development” at Pharma Trials World Asia 2012. With representatives from these big players in pharmaceutical industry present, it would be a great chance to get to know them and the direction their companies are heading in.
Interested to hear from them?
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