The 2012 edition of the BioPharma Asia Convention opened with a plenary session with the 4 leaders of from the pharmaceutical world. They discussed the future of their industry in the asian region. Members of the panel include, Salomon Azoulay from Pfizer USA, Andreas Busch from Bayer Health Care, Anand Tharmaratnam from Quintiles and Chihiro Yokata from Astellas Pharma Japan. Led by Jean Jacques from BioMarin, the panel discussed the future of their pharmaceutical research and development in the Asia Pacific region.
In particular, the panel was interested in discussing the strategies that a pharmaceutical firm should adopt moving forward. What emerged was that projected growth of China and India meant that no growth strategy is complete without a strategy for these two economic giants. Therefore they have been active in looking out for potential partnerships that can help them in their quest to establish themselves in the region. These partnership can come in the forms of partnership with government agencies or even tertiary establishments. This is as according to Anand the pool of innovators from this area has been increasing exponentially. China for example has an impressive pool of innovators that meant that it does not make sense for companies to go into China just to look for cheap labour. The brightest minds are there and therefore they should be looking to these countries to supplement their research force
While there is, without a doubt, a certain barrier to entry in the Asia and in particular China and India, they all agree that the potential is to huge to turn their backs on the opportunity. Therefore,as Salomon underlined, pharmaceuticals companies need to seriously look at forging meaningful partnerships with regulatory bodies and government agencies that will help lower the barriers to entry into these markets.
Interesting start to the convention. We’ll be blogging about new revelations as the day progresses so stay tune!