We already knew Asia was the place to be for pharmaceuticals these days, but it's nice to have our instincts confirmed by experts. PricewaterhouseCoopers has released a study based on interviews with 185 top pharma execs in the Asia-Pacific region. The verdict? Not only are China, India, Singapore and their neighbors poised to become huge pharmaceuticals consumers, but big producers as well.
Asian countries are falling all over themselves to attract pharmaceuticals manufacturing and development, with China and India leading the way. Western companies are plowing money into facilities in China, and in India, the clinical trials market ($150 million) and contract manufacturing ($350 million) are poised to reach $1 billion each by 2010. But while China is focused almost solely on generics, Indian companies are doing their own development. Hey, a little competition never hurts.
Singapore to spend $8B on biotech R&D. Report
China pushes drug development as R&D soars. Report
India's biotech future is bright. Report