For many years, emerging markets have been strategically important for the growth and development of the Lifesciences sector. Almost 90% of the sector now operates in an emerging market, including the Asia-Pacific region.
For many Lifesciences companies, including those based in Japan, Singapore has become the regional hub, many now having offices, manufacturing sites or other bases there. We have also seen the rapid and significant growth of China to become the third largest market in the sector over the last 10 years, with the market still growing.
The opportunities available to the Lifesciences sector in Asia-Pacific are promising, but they are not without challenges and risks, particularly in IP and regulatory areas. For example, in light of the highly reported antibriberyinvestigations many global pharmaceutical companies have reviewed their regulatory policies and also the distribution of registered and unregistered drugs. Many companies in the region also continue to protect and enforce their IP rights as drugs are copied and sold at reduced cost.
The Lifesciences Asia-Pacific Network (LAN) has been established for the Lifesciences sector to support and guide clients on all their legal and regulatory needs in the Asia-Pacific region, offering a highly knowledgeable ‘one-stop shop’. LAN brings together eight of the leading and largest law firms in the region, including Assegaf Hamzah & Partners, Atsumi & Sakai, Chen & Lin, CMS, Corrs Chambers Westgarth, Rajah & Tann Singapore LLP, Tilleke & Gibbins and Yulchon LLC.
The two guides – Intellectual Property & Lifesciences Regulation and Distribution & Marketing of Drugs – by LAN both provide a comparative overview of the key legal and commercial issues and considerations in Australia, China, India, Indonesia, Korea, Singapore, Taiwan, Thailand and Vietnam to help you maximise opportunity and minimise risk.
We hope that you find these guides helpful and informative, as you explore and continue to do business in the Asia-Pacific region.
If you would like to discuss specific issues and questions, please do contact Nick Beckett