Opportunities in Emerging Markets - Newly Industrialized Asia (South Korea, Singapore, Taiwan, and Hong Kong SAR)
Decision Resources, Inc, April 2011, Pages: 41
What opportunities are available for pharmaceutical companies to pursue in the newly industrialized Asian economies (NIEs), compared with the emerging and developing economies of BRIC-MT? Owing to the rapid growth of many Asian economies, most pharmaceutical companies are taking a long hard look at Asia-Pacific markets to chart a course toward increasing global and regional drug sales. What information does a company use when deciding to choose one country market over another? This report investigates the NIE markets and compares these markets with the advanced economies of the United States and Japan and with the emerging and developing BRIC-MT markets. It explores the differences and similarities between these diverse markets and discusses strategies as well as opportunities for pharmaceutical companies in NIEs.
Questions Answered in this Report:
- There is no one-size-fits-all strategy for accessing Asia-Pacific markets, which are heterogeneous and offer diverse advantages and disadvantages. What are the key characteristics of NIE markets? How do these markets compare with emerging and developing BRIC-MT markets? How do they compare with the advanced markets of Japan and the United States?
- Trade barriers can limit the ability of imported products to compete in domestic markets in NIE and BRIC-MT economies. What recent free trade agreement (FTA) was ratified with South Korea? What other FTAs are in process? What are the likely impacts of these agreements on the pharmaceutical industry?
- Pfizer created an established products unit in 2009. Why does Pfizer view established products as a key element of the company’s growth and risk diversification strategy? Why is Pfizer’s approach to unlocking value in new markets for existing drugs especially useful in the developed economies of the NIE countries?
- Eisai has embarked on a bold new mid-term strategic plan called Hayabusa. How does Eisai plan to change its business model? What is Eisai’s East Asia (Japan, China, Thailand, South Korea, Hong Kong) strategy?
- Bayer has designated the Asia-Pacific region as a key growth and investment opportunity. What is Bayer’s two-pronged approach for this region? Which markets is Bayer targeting for more investment?
Scope of the report:
- Geographies: Emerging markets; Brazil, Russia, India, China, Mexico, Turkey (BRIC-MT); newly industrialized Asian economies (NIEs), including Singapore, Taiwan (Province of China), Hong Kong Special Administrative Region (SAR), and Republic of Korea (South Korea); advanced economies, including Japan, United States, and EU; ASEAN-5, including Indonesia, Malaysia, Philippines, Thailand, and Vietnam; developing Asia, including China, India, and ASEAN-5; East Asia, including Japan, China, Thailand, South Korea, Hong Kong; Macau.
- Economic development: Global competition, economic growth, KORUS free trade agreement, Trans-Pacific Partnership (TPP) agreement, EU-South Korea free trade agreement, North American Free Trade Agreement (NAFTA), Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement.
- NIE versus BRIC-MT market comparisons: Global competitive index, population, gross domestic product (GDP), GDP per capita, health expenditures, infant mortality, life expectancy, labor force pay and productivity, labor force female-to-male ratio, quality of math and science education, prevalence of trade barriers, number of clinical trials, intellectual property protection, foreign ownership of companies, favoritism on decisions by government officials, utility patents, intensity of local competition, extent of market dominance, financial services, local equity markets, venture capital.
- Products: Biosimilars, cancer diagnostics, pharmacogenomics, vaccines, established products, branded generics, innovative brands, embedded biomarkers.
- Pharmaceutical strategies: Innovation, maximizing the value of established products, globalization, pharmaceutical market expansion, maximizing regional sales, joint ventures, strategic partnerships, diversification, operational scale, licensing, research agreements, nonprofit research alliances, regional headquarters, distribution and commercialization partners, global clinical trials, divestment, pharmaceutical manufacturing, risk diversification, portfolio expansion, value creation, Hayabusa mid-term strategic plan, personalized medicine, Japan-United States-European-centric business model, globalization-emerging-markets-centric model.
- Expert insight:Peter Wittner provides insights on free trade agreements and company activities in South Korea. Mr. Wittner is the principal of Interpharm Consultancy and specializes in generics strategies. Previously, he worked at Ranbaxy (U.K.), H.N. Norton (subsequently part of Ivax), Evans Medical, A.H. Robins, and Koppel & Co. in general management, business development, and sales and marketing.
- Exhibits: 17 data-rich tables and figures.
Executive Summary
- Strategic Considerations
- Stakeholder Implications
Economic Growth
Global Competitiveness
- Global Competitiveness Index
- Gross Domestic Product Per Capita
- Emerging Pharmaceutical Markets
Comparison of NIE and BRIC-MT Markets
- Population and GDP
- Health Expenditures
- Infant Mortality and Life Expectancy
- Labor Force: Productivity-to-Pay Correlation and Female-to-Male Ratio
- Quality of Math and Science Education
Trade Barriers and Free Trade Agreements
- KORUS Free Trade Agreement
- EU-South Korea Free Trade Agreement
Market Strengths and Recent Company Activities
South Korea
- Select Market Strengths
- Clinical Trials
- Biosimilars
- Recent Company Activities
- Crucell and Johnson & Johnson
- Dong-A Pharmaceutical and GlaxoSmithKline
- Novavax and LG Life Sciences
- Pfizer Pharmacogenomic Deals
- Invida to Commercialize Roche’s Primary Care Portfolio
- Theratechnologies’ Emerging-Market Deals
Singapore
- Select Market Strengths
- Intellectual Property Protection
- Foreign Ownership of Companies
- Favoritism in Decisions by Government Officials
- Recent Company Activities
- Commercialization Partners
- Clinical Trials
- Cancer Diagnostics
- Pharmaceutical Manufacturing
- Vaccines
Taiwan
- Select Market Strengths
- Innovation
- Intensity of Local Competition
- Extent of Market Dominance
- Recent Company Activities
Hong Kong
- Select Market Strengths
- Availability of Financial Services
- Local Equity Markets
- Venture Capital Availability
- Large Companies Active in Hong Kong
Outlook
- Pfizer’s Established Products Approach
- Eisai’s Era of Globalization for Mature Markets
- Bayer’s Two-Pronged Approach
- Conclusion
About the Author
About the Expert
- 3SBio
- Abbott Laboratories
- Abbott Laboratories Hong Kong
- Achillion Pharmaceuticals
- Actelion
- Agency for Science, Technology, and Research (A*STAR)
- Allergan Asia
- Amarillo Biosciences
- Amgen (Hong Kong)
- Ascent Therapeutics
- Ascentage Pharma Group
- Asian Cancer Research Group
- Astellas Pharma
- Astellas Pharma Hong Kong
- Astra
- AstraZeneca Hong Kong
- Baxter
- Bayer Healthcare
- Bayer HealthCare Hong Kong
- Bayer Healthcare Pharmaceuticals
- Biogen Idec
- BioMarin Pharmaceuticals
- Boehringer Ingelheim Hong Kong
- Bristol-Myers Squibb Pharma (H.K.)
- Cancer Science Institute of Singapore
- Celltrion
- Cel-Sci
- Celsion
- Centre for Global Competitiveness and Performance (World Economic Forum)
- China National Pharmaceutical Group (Sinopharm)
- Chugai Pharmaceutical
- CIBA Vision (Hong Kong)
- ClinicalTrials.gov
- Codexis Laboratories Singapore
- Covance
- Crucell
- CSL Biotherapies Asia Pacific (Hong Kong)
- Cytos Biotechnology
- Daiichi Sankyo Hong Kong
- Dainippon Sumitomo Pharma
- Dong-A Pharmaceutical
- DSM Pharmaceutical Products
- Eisai
- Eisai (Hong Kong)
- Eli Lilly
- Emergent BioSolutions
- EPIC Bio
- European Parliament
- Ferrer International
- Ferring Pharmaceuticals (Hong Kong)
- Fresenius Kabi Asia Pacific (Hong Kong)
- GCA Therapeutics
- Gene Biodesign Enterprises
- Genentech Singapore
- Genomic Health
- Gilead Sciences
- GlaxoSmithKline
- GSK Hong Kong Pharmaceutical
- Hanmi Pharmaceuticals
- Hikma Pharmaceuticals
- Hospira
- ICON
- Impax Laboratories
- Impax Laboratories Taiwan
- Integrated Distribution Services Group (IDS)
- International Monetary Fund (IMF)
- International Vaccine Institute
- Interpharm Consultancy
- Invida
- Invida Holdings (Singapore)
- Ipsen
- Ironwood Pharmaceuticals
- Isotechnika Pharma
- Janssen Hong Kong
- Janssen-Cilag (Hong Kong)
- Johnson & Johnson
- Johnson & Johnson (Hong Kong)
- Korea Food & Drug Administration (KFDA)
- Korea Institute of Bioscience and Biotechnology
- Korea Pharmaceutical Traders Association (KPTA)
- Korean Ministry of Knowledge and Economy
- Korean National Assembly
- Kyowa Hakko Kirin (Hong Kong)
- LG Life Sciences
- Li & Fung
- Lilly Hong Kong
- Lonza Biologics
- Lundbeck Hong Kong
- Medison
- Merck & Co.
- Merck Pharmaceutical (H.K.)
- Merck Sharp & Dohme
- Merck Sharp & Dohme (Asia)
- National University Cancer Institute (Singapore)
- Novartis
- Novartis Pharmaceuticals (Hong Kong)
- Novartis Vaccines and Diagnostics (H.K.)
- Novavax
- Nycomed (Hong Kong)
- Optimer Biotechnology (OBI)
- Optimer Pharmaceuticals
- Orexo
- Orient Europharma (Taiwan)
- Ortho Clinical Diagnostics
- Otsuka Pharmaceutical (H.K.)
- Otsuka Pharmaceuticals
- Our World Is Not For Sale (OWINFS)
- Pan American Health Organization
- Pfizer
- Pfizer Corporation Hong Kong
- Pharmaceutical Research and Manufacturers of America (PhRMA)
- Pharmaceutical Service (Hong Kong)
- PPD
- Pronova BioPharma
- Quintiles East Asia
- Quintiles Transnational
- Regeneron Pharmaceuticals
- Roche
- Roche (Hong Kong)
- Roche Korea
- Roche NimbleGen
- Rosetta Genomics
- S*BIO
- Samsung Group
- Samsung Medical Center
- Sanofi Pasteur
- Sanofi-Aventis
- Sanofi-Aventis (Hong Kong)
- ScinoPharm Taiwan
- Sinclair Pharma
- Singapore Economic Development Board
- Singapore Eye Research Institute
- Sinovac Biotech
- Solasia Pharma
- State Food and Drug Administration (SFDA, China)
- T & T Pharma
- Taiwanese Department of Health
- Temasek Life Sciences Laboratory
- Temasek Life Sciences Ventures (Singapore)
- Teva Pharmaceutical Industries
- Theratechnologies
- Tianjing Institute of Pharmaceutical Research
- Tolmar
- Trubion Pharmaceuticals
- U.S. Congress
- UCB Pharma (Hong Kong)
- UNICEF
- United Nations
- United States Patent and Trademark Office
- ValiBIO
- Volition
- Watson Pharmaceuticals
- World Economic Forum
- World Health Organization (WHO)
- Wyeth (H.K.)
- Zeneca
- Ziopharm Oncology
- Zuellig Pharma Hong Kong
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