China and India the future for Big Pharma
The Paris, France subsidiary of the USA-headquarted Boston Consulting Group has suggested that the major drug firms should move R&D to China and India, citing different advantages for both emerging markets. The BCG has released research carried out in both China and India, as well as with major drugmakers from developed countries.
The BCG reports that pharmaceutical R&D productivity has been falling for the past 25 years. Moving resources to India offers half the R&D costs of China, with lower wages for technical staff and relatively less bureacracy. The wide-spread use of the English language is a bonus. China, on the other hand, has a drug market growing 14% annually.
From 2002 to 2004, the main R&D laboratories spend rose from $75.0 million to $181.0 million in India. China's gov-ernment R&D spending grew from $232.0 million to $334.0 million from 2001 to 2003, according to the BCG.
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