The pharmaceutical industry on a global scale is constantly under pressure from a range of environmental issues, major losses in revenue due to patent complications, increasingly cost-constrained healthcare systems and under rigorous regulatory requirements.
So how then can Asia rise up to the challenge by being at the forefront in supplementing the overall global pharmaceutical system?
The key to tackling the challenges and issues posed to both the future viability of the pharmaceutical industry and advances in healthcare is to substantially increase the number and quality of innovative, cost-effective new medicines, without incurring unsustainable R&D costs.
Let’s find out more from Mr Yariv Hefez, Vice President Business Development, Portfolio Management, Strategy and Partnering, Biosimilars, Merck Serono Switzerland as he initiates the issues and challenges faced in Asia’s pharmaceutical landscape for Day One of the Premium Conference.
Joining him on the panel as speakers are Tsutomu Une, Corporate Advisor of Daiichi Sankyao Japan and Chairman of Ranbaxy Laboratories, India , Chae J. Lee, Vice President of Global Strategy & Corporate Development, Dong-A ST, South Korea and Cezary Statuch, Vice President, R&D, Bristol Myers-Squibb, China.
Chae J. Lee, the man responsible for establishing Dong-A’s future growth engines by executing strategic in-licensing/out-licensing partnerships, “Big Deals” ranging from M&A, JV, tech transfers to commercial/R&D alliances, agreed that Korea is at the forefront of biopharma research in Asia and he mentioned that:
“Korea is at the forefront of biopharma research. What I think that by the end of the day is that we don’t have the global innovative port out there. The solution lies in Asia when it comes to driving innovation and instead of spending time on commercial operations, there is a strong need to connect with the countries within the Asian region.”
Cezary Statuch digressed that innovation should be driven by two factors in a concluding note:
“Innovation should be about product differentiation and competition. we believe that in the past it was easy to compete within the Asia market and when the time comes, there wont be much space for the biopharma market. You need to be into innovation if you want to break into the biopharma market.”
For more information regarding Asia’s outlook in the overall global pharmaceuticals, more will be covered in the next update, Keynotes: Pharma Partnering & Investment World Asia.
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