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Overall Situation in Pharmaceutical Industry
The centre of the global pharmaceutical industry is
shifting. Not only is Asia set to be the largest
pharmaceutical market in the world but many Asian
territories will be powerhouses of the industry. The
shift started as economies grew and low cost
manufacturing in the region expanded. Now, companies,
are increasingly, also seeking to site research,
development, analytical services and clinical trial
activity in Asian territories. This reflects both
increased capabilities in the region and a changed
business model of pharmaceutical multinational companies
(MNC). The view that the centre of the pharmaceutical
industry is moving away from North America and Europe
and towards Asia is shared by pharmaceutical MNC’s and
Asia-based companies alike. 50% of MNC’s agreed with
that statement and less than a quarter voiced any
disagreement with the prospect of such a shift (Price
WaterhouseCoopers, 2007).
Historically, the pharmaceutical industry has been
slower to embrace offshoring, but over the last few
years this trend has begun to reverse with significant
movement to global sourcing. Unlike many other
industries, the pharmaceuticals sector is uniquely
positioned to remotely execute one of its core
competencies, i.e. R&D, which represents acc. to a
McKinsey paper of 2005 74% of offshored employment.
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