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Innovator firms will need more than just sharp business strategies to tap into the high potential but fluid pharmaceutical markets in the BRIC/MIST countries (Brazil, Russia, India, China, Mexico, Indonesia, South Korea, and Turkey). Flexibility well beyond pricing and the ability to wait it out till the rewards creep in are vital in these markets.
Since Boehringer Ingelheim’s u-turn on its lung cancer partnership with Hanmi Pharmaceutical, the South Korean company has seen its stock prices falling and latterly a government investigation. Confidence in the country’s burgeoning drug development industry has taken a hit but there are still plenty of reasons to believe in the country’s R&D engine.
Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.
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