Sanofi Pasteur exec urges cultural sensitivity when approaching emerging markets

To optimize product portfolios many pharmaceutical companies are seeking opportunities in emerging markets. However, not every market is worth pursuing, which is why cultural sensitivity and analytical thinking is needed to assess potential markets, says Pierre Morgon, vice president, franchise and global marketing operations at Sanofi Pasteur, the vaccines unit of French drug major Sanofi-Aventis (Euronext: SAN). A speaker at the Marcus Evans Emerging Pharmarkets Summit 2011 in Cannes, France, earlier this year, Mr Morgon explores the principal challenges of marketing pharmaceutical products in emerging markets, and his outlook of the future of the industry in an interview with Marcus Evans.

How should multinational companies approach emerging markets?

Pierre Morgon: “Multinational companies need to be culturally sensitive when approaching emerging markets. Situational intelligence is important for making decisions in an analytical way. Not every market is worth pursuing, which is why the ability to be analytical is absolutely essential.