The Japanese generic drug market: opportunities and strategies for success
Until recently, Japan seemed all but closed to incursion by foreign generic manufacturers. In an important new white paper, Thomson Reuters reveals the true picture of the generic market in Japan and the tactics that can ensure success in this market.
Japan is the world's second largest pharmaceutical market, commanding annual sales of approximately 6.45 trillion yen (USD 64.5 billion). However, only 6.6 per cent of its prescription drug sales are contributed by generics.
A combination of major drug patent expiries before 2012, a rapidly aging demographic, wide-ranging government initiatives to reduce health care spending, and comparatively high reimbursement prices are making the generic drug sector in Japan increasingly attractive to foreign manufacturers looking for a large, relatively untapped and receptive market.
In this white paper, Thomson Reuters draws on the unique intelligence of Newport Premium™ and Thomson Pharma® to reveal exactly what's happening in the Japanese generic drug market, and predicts how the situation may change under the incoming Democratic Party of Japan (DPJ) administration.
Written with the cooperation of generic industry experts in Japan, the white paper shows how the country is already embracing foreign drugs, active pharmaceutical ingredients (APIs) and generic companies. It explores the public perception of generic drugs in Japan, the attitude of Japanese physicians and pharmacies, the importance of quality and brand equivalence, and the drug reimbursement, approval, exclusivity, distribution and other issues that foreign companies need to be aware of.
Japanese generic drug market: download a free copy of this white paper
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