Article preview from IN VIVO July 21, 2009
Emerging global markets are a hot topic in pharmaceutical circles these days, but until recently, most Westerners viewed them as a homogenous cluster. Few executives at corporate headquarters drew distinctions among the various countries, let alone the domestic and international players in those markets. As big pharma bumps up against growth constraints in its traditional markets, however, interest in the "rest of the world" is perking up. The largest pharmaceutical companies are all looking at the same promising half dozen or so emerging countries, but they are taking radically different approaches to tackling them and are moving at different paces. Read on...
Article preview from IN VIVO July 21, 2009
- While paring back commercial operations in Western markets, Big Pharma is scaling up in emerging countries, building infrastructure, pushing for access, and racing to attract the right talent.
- They're taking a variety of approaches, though, depending on product portfolios, historical strengths, and current pressures. Some, like Bristol-Myers, are concentrating on their core, innovative products, while others, including GlaxoSmithKline and Sanofi, are selling a mix of their own and in-licensed products at varying price points tailored to different customer bases.
- Since branded generics dominate nearly all emerging markets, most Western players reckon that this is where they can make money—though it does require a new mindset.
Few firms are ready to reveal the size of their investment in emerging markets, or their revenue and profit expectations, and Wall Street seems unimpressed. Thus, it's unclear whether--or how quickly—overseas efforts can make up for the shortfalls in traditional markets.
Emerging markets are a hot topic in pharmaceutical circles these days, but until recently, most Westerners viewed them as a homogenous cluster. Few executives at corporate headquarters drew distinctions among the various countries, let alone the domestic and international players in those markets.
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