Updated on 10 September 2012
Local partnerships in Asia could take several forms. For example, Merck Serono is involved in establishing centers of excellence together with local institutions to provide training and education in key areas of need. We also partner with R&D hubs in China and Japan to support innovation and drive early drug development for Asian indications. As market leaders in fertility and cardiometabolic care the company also has significant development programmes to generate local data that would benefit both the company and the local people.
Asia in the next decade
Asia's fast paced growth and potential market size can clearly be seen in markets such as India and China. For example, the Indian pharmaceuticals market is expected to grow to about $20 billion while China's pharmaceuticals market is expected to reach $38 billion by 2015. Other up and coming markets include Korea, Taiwan and Indonesia. Many global pharmaceuticals are already seeking ways to leverage the potential and drug development capabilities in these markets.
In the next decade, Asia is expected to be the highest growth region in the world. According to The Economist's forecast of global economies, by the year 2020, China is expected to become the largest economy in the world while Indonesia, and Thailand is expected to claim the fifth, and eighth spot respectively.
To fully capitalize on the R&D opportunities presenting themselves in the growing markets of Asia, we are likely to see more partnerships between Asian institutions and foreign-based pharmaceutical companies. The shift towards a model of multiple strategic partnerships will allow for the sharing of business knowledge and technical skills with local expertise and insights.