I find it eye watering the amount of money that is owed to the Pharmaceutical Industry by Eurozone countries, running into the £billions at the last count. With sales and revenues tumbling in these markets and Pharmaceutical Companies contemplating a growing pile of unpaid bills for medicines they have already sold into Europe, will the eyes of Big Pharma be firmly fixed on other markets?
My colleague Dan made the comment in his blog last week that, in his opinion, “to enjoy the continued growth that global life science companies have seen over the recent decades, they must increasingly look to emerging markets as sources of development” and I can only agree with this sentiment.
Since the beginning of this most recent recession I have experienced a definite uplift in the interest in candidates, of all disciplines, with experience of Emerging Markets. Unsurprisingly clients are particularly interested in candidates with experience of the regulatory requirements and processes and also commercial and experience in Market Access into these markets.
I believe that with the cost of research and development spending per new drug being equally eye watering and health authorities wanting to cut their spending the Pharmaceutical Industry will have to look outside of their traditional Eurozone cash cows. And in my opinion those candidates with Emerging Markets experience will be at a premium.
– Sally Hope, Managing Director