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Asia-Pacific Biotechnology Sectors : A Company and Industry Analysis (August 2008)
Mergent, Aug 2008, Pages: 36
This report updates the previous Asia-Pacific biotechnology report, focusing on the markets in Australia, China and Hong Kong, India, Japan, South Korea and Taiwan
Current Environment - Key Points
- The rising cost of conducting research and carrying out trials in the west continued to shift investment to the east over the first half of 2008
- The stock market's decline affected biotech stocks, partly due to their higher risk profiles compared to other stocks
The Intersuisse Biotechnology Index in Australia, for example, reported the sharpest annual decline since its inception in 1996
- A landmark agreement between China's State Food and Drug Administration and the US Department of Health and Human Services, signed in Beijing in December, aimed to improve drug safety and quality control over Chinese produced pharmaceutical and biotech substances
- However, merger, acquisition and alliance activity remained strong in the first half of 2008
In a major transaction, Japan's Takeda Pharmaceutical (TSE: 4502) acquired US-based Millennium Pharmaceuticals (NASDAQ: MLNM) for US$8.8 billion in April
- Cash-rich drug makers continued to pursue acquisitions as they tried to cushion the impact of expiring patents in the coming years and fill out thin late-stage pipelines
Industry Profile - Key Points
- The biotech market in the Asia-Pacific was valued at US$14.9 billion for 2007 and is expected to grow by 10% in 2008, with Japan the largest contributor
- Governments in the Asia-Pacific are still providing most of the investment support to their biotech sectors
Currently, China is outspending the US on biotech
- Research and development (R&D) remain active in Australia, and encompass a range of research areas
- The Indian Government is considering switching to a pentavalent (five-in-one) vaccine in the country's immunization program, which will benefit some Indian biotech companies in the pentavalent vaccine business
The Government also undertook two major regulatory initiatives - the creation of the National Biotechnology Regulatory Authority and the Central Drug Authority
Market Trends and Outlook - Key Points
- Biotech crops, or genetically modified (GM) crops, are still gaining ground globally
R&D work on biotech crops is widely dispersed across the Asia-Pacific
Recently, several factors have contributed towards an increase in grain prices worldwide, making biotech crops even more important
- The monoclonal antibodies (mAb) market is expected to grow significantly in the next few years, boosted by the number of new mAbs in the market, new indications for successful medications and their ability to treat diseases
The Asia-Pacific is poised to become a dominant player in the area of antibody therapeutics development with the region offering a number of advantages
- Nanotechnology and biotechnology are now fusing to start a technology revolution - nanobiotechnology - and it is taking hold in the Asia-Pacific
Nanotech has become a main science and technology priority area for governments throughout the region
Budgets for nanotech R&D are being more strategically allocated
- The outlook for the biotech industry in the Asia-Pacific remains strong, with it attracting much attention in recent years
Several countries have declared their intentions to become the biotech hubs of the region
Most attention will be on China and India, as the two countries continue to pursue biotech advancement.
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