PwC says that Asia will become 'largest pharma market

According to a PricewaterhouseCoopers (PwC) report, competition among Asian countries to attract international pharmaceutical players is intensifying as governments are now offering various incentives.

It adds, however, that in spite of improvements in government regulation and intellectual property (IP) protection in the region, risk still remains relatively high.

Dan Bartholomew, senior managing director of PwC's pharmaceutical and life sciences practice, said: "The pendulum for the pharmaceutical industry is shifting from the West to the East. This means that if US-based companies want to have part of that market, they are going to need to be present in the region and learn to navigate the risks."

The report was compiled from the results of survey of 185 senior pharmaceutical executives from 92 domestic Asian companies, and 93 multinational companies with operations in nine different countries: China, India, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

The MAICPS says that the fall in US export revenue was due to the 90 per cent fall in US prices for three generic drugs made by Teva after their 180-day exclusivity periods expired.