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Article: Big Pharma rushing to get foothold in emerging markets, despite challenges.
- Article from:
- Pharma Marketletter
- Article date:
- March 31, 2008
CopyrightCOPYRIGHT 2008 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Faced with dwindling growth rates in both the USA and Europe, pharmaceutical companies are turning their attention towards emerging markets whose double-digit growth is fuelled by their recent economic booms. However, although the patient potential of these countries is enormous, foreign drugmakers are currently tapping into only a fraction of the consumers, due to fairly poor access to medicines in countries such as India and China and, to an extent, in Russia, Brazil and Turkey. Nevertheless, many companies are keen to get a foothold as the purchasing power of the booming middle class and that of the countries as a whole is rising, and is driving the pharmaceutical ...