Decision Resources, one of the world's leading research and advisory firms for pharmaceutical and healthcare issues, finds that pharmaceutical companies entering emerging markets must be prepared for market conditions that differ substantially from those of mature markets, including deficient healthcare infrastructures and logistical difficulties in reaching consumers in remote rural markets.
The new report entitled Strategic Overview of Pricing and Reimbursement in the BRIC Markets -- Brazil, Russia, India and China -- also finds that pharmaceutical companies will need to address weak intellectual property protection as well as governments that may not be supportive of large foreign pharmaceutical companies' efforts to establish a strong market presence.
For example, senior Russian government officials have talked of the possibility of revoking the data exclusivity agreement that guarantees at least six years of protection against unfair commercial use of data in Russia. In India, multinationals have had to resort to litigation to defend their brands' market exclusivity. In China, numerous international brands have lost sales to Chinese copy products that were approved shortly before or after the multinational originator companies received marketing approval for the new chemical entities. Multinationals also are concerned that governments in emerging markets might increase their use of compulsory licenses to ensure that key medicines are available to their citizens at relatively low prices.
Yet, despite these challenges, emerging markets offer significant growth opportunity because of thriving economies, unmet medical needs, increasing healthcare investment and growing patient populations. The BRIC markets in particular have been the focus of pharmaceutical industry attention for potential growth.
"Faced with declining growth rates in mature markets, pharmaceutical companies are looking to emerging markets, especially the BRIC markets, to boost their sales significantly," said Neil Grubert, M.A., Director of Pricing and Reimbursement Research at Decision Resources. "These markets certainly offer exciting opportunities, but they also present some formidable challenges for multinationals that are unfamiliar with the very different market dynamics in these countries."
Members of the media are welcome to attend our upcoming webinar entitled Building in BRIC -- Negotiating the Challenges and Capitalizing on the Opportunities in Emerging Markets. This webinar will be held on Thursday, March 18 at 10 a.m. U.S. Eastern Time. For more information, please contact Lisa Osgood at 781-296-2606 or by email at firstname.lastname@example.org.
About Strategic Overview Reports
Strategic Overview reports are a new offering within the Spectrum franchise. These reports are comprehensive examinations of dynamic biopharmaceutical markets and industry issues. Primary research, data analysis, thought-leader consultation and the expertise of the industry-savvy Spectrum staff drive reports that offer breadth of coverage along with depth of strategic insight.
About Decision Resources
Decision Resources (www.DecisionResources.com) is a world leader in market research publications, advisory services and consulting designed to help clients shape strategy, allocate resources and master their chosen markets. Decision Resources is a Decision Resources, Inc. company.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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SOURCE: Decision Resources
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