Pharma Futures 3 Emerging Opportunities
Pharma Futures 3 Emerging Opportunities
Pharma Futures 3 Emerging Opportunities
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<strong>Pharma</strong> <strong>Futures</strong> 3<br />
Executive<br />
Summary<br />
<strong>Emerging</strong> markets are now significant<br />
players in global trade. The healthcare<br />
industry – though slower than others<br />
to switch on – is actively seeking to<br />
realise the commercial potential of<br />
countries such as China, Brazil,<br />
Russia and India. Economic and<br />
demographic growth has combined<br />
with changing disease profiles to<br />
present attractive new consumer<br />
markets as well as potential research<br />
and development hubs. These<br />
countries – especially India and<br />
China – are also the source of new<br />
competition, particularly in generics,<br />
which contests the dominance of<br />
global healthcare players. But, despite<br />
this surge of economic activity, these<br />
countries remain home to millions of<br />
people who live in great poverty and<br />
who have little to no access to quality,<br />
affordable healthcare.<br />
How companies – Western<br />
multinationals as well as emerging<br />
markets players – address the critical<br />
societal challenge of reconciling<br />
commercial success and healthcare<br />
outcomes will be a determinant not<br />
only of the success of their efforts,<br />
but also of globalisation more broadly.<br />
Can companies and their stakeholders<br />
find ways to ensure that the majority<br />
of people and not just the wealthy few<br />
prosper in this new environment?<br />
Is it possible for the global healthcare<br />
industry to respond to emerging<br />
markets – not as ‘Rest of World’<br />
as it has traditionally done, but as –<br />
‘Most of the World’ as it in fact is?<br />
<strong>Pharma</strong> <strong>Futures</strong> 3: <strong>Emerging</strong><br />
<strong>Opportunities</strong> (PF3) is the third in<br />
the <strong>Pharma</strong> <strong>Futures</strong> series of investorled<br />
dialogues exploring the future<br />
of the pharmaceutical industry.<br />
In this iteration it brought together<br />
representatives of the pharmaceutical<br />
industry, investors, entrepreneurs<br />
and global health experts to explore<br />
the links between sustainable<br />
pharmaceutical business models<br />
and improved health outcomes in<br />
emerging markets. Specifically,<br />
the dialogue explored how other<br />
industries have approached value<br />
creation in emerging markets, and,<br />
in particular, how companies have<br />
successfully reached middle and<br />
lower income market segments<br />
through innovative approaches.<br />
The group was clear that the market<br />
alone cannot and will not solve the<br />
needs of the poorest people. It,<br />
however, concluded that through<br />
partnerships and innovation much<br />
more can be done by incumbent<br />
pharmaceutical companies to help<br />
deliver better healthcare outcomes<br />
for people on lower incomes in<br />
these markets.<br />
‘We try to remember that medicine is for the<br />
patient. We try never to forget that medicine is<br />
for the people. It is not for the profits. The profits<br />
follow, and if we have remembered that, they have<br />
never failed to appear. The better we have<br />
remembered it, the larger they have been.’<br />
George W Merck<br />
Richmond, Virginia, 1 December 1950<br />
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