Difference between revisions of "Pharma Valley"
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==Developments in time== | ==Developments in time== | ||
===2010-2015=== | ===2010-2015=== | ||
The recovery from the financial crisis brought a further rise of the economies in emerging mark markets, above all in Asia. Overall globalisation increased, and with the development of China and India, also their awareness concerning the importance of Intellectual Property Rights was rising, resulting in an increased global recognition and enforceability. | |||
As the R&D costs in the pharmaceutical industry were increasing and the development of new blockbusters was diminishing, the big pharmaceutical companies started R&D departments in emerging countries like China, India and the Philippines, where labour costs were low and young people with good education were entering the labour market, to reduce R&D costs. | |||
Also the costs in the overall health system were still rising in the developed world, one main reason for that was identified to be the fragmented and time intensive approval system for new medication in the different countries of the world. The USA, Canada and the European Union started to simplify and harmonize their approval requirements for new medication. | |||
===2015-2020=== | ===2015-2020=== | ||
===2020-2025=== | ===2020-2025=== | ||
Revision as of 15:03, 6 October 2009
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Big pharma companies won't be anymore, and a whole scale of specialised smaller R&D companies will emerge
Developments in time
2010-2015
The recovery from the financial crisis brought a further rise of the economies in emerging mark markets, above all in Asia. Overall globalisation increased, and with the development of China and India, also their awareness concerning the importance of Intellectual Property Rights was rising, resulting in an increased global recognition and enforceability. As the R&D costs in the pharmaceutical industry were increasing and the development of new blockbusters was diminishing, the big pharmaceutical companies started R&D departments in emerging countries like China, India and the Philippines, where labour costs were low and young people with good education were entering the labour market, to reduce R&D costs. Also the costs in the overall health system were still rising in the developed world, one main reason for that was identified to be the fragmented and time intensive approval system for new medication in the different countries of the world. The USA, Canada and the European Union started to simplify and harmonize their approval requirements for new medication.