Quintiles says it plans to invest more in Asia as the biopharm industry continues to develop rapidly over there.
Anand Tharmaratnam, head of Asia markets at Quintiles, said that global biopharm companies accounted for 90 percent of Quintiles clients in Asia only 3 years ago, whereas the ratio of global to local clients is now closer to 50:50 today. That's a dramatic shift in only 3 years.
Tharmaratnam attributes the rapid growth to government support and return of highly qualified staff (with an entrepreneurial bent) from the US. Korea, Singapore and Taiwan in particular were singled out as biopharm hotbeds. The rapid growth in India and China has also stimulated global pharma companies to locate more and more operations there to open up these potentially lucrative markets.
Anyone think the US needs a policy to further promote US Biotech growth and industry health to maintain our current leadership position? Or can we just watch Asia grow at our expense?
Posted by Bruce Lehr Dec 1st 2011.