According to healthcare analysts at IMS Health, "Emerging markets will nearly double their spending on medicine over the next five years from $194bn in 2011 to $345-375bn in 2016." The Global use of Medicines: Outlook through 2016, says the expected rise comes from a combination of increasing income levels, the increased affordability of medicines and the roll-out of government healthcare programmes for poorer patients.
With these rising governmental expenditures in healthcare and a growing talent pool of academic researchers, countries such as Korea, Japan, Singapore and Taiwan are fast becoming key industry players in the pharmaceutical markets, placing high priority on R&D. Asia is further emphasized as a continent of investment opportunities with partnerships including GSK and Dr Reddy’s Laboratories, Pfizer and Aurobindo Pharma, Merck and WuXi (China) partnering for research services and Biogen's co-development agreement with Samsung (Korea).
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