Emerging markets are now significant players in global trade. Yet they are also very different than mature markets and more complex to manage.
For the pharmaceutical industry in particular, they have often presented both commercial opportunities and the challenges of massive poverty and low levels of access to healthcare.
It is not surprising that many global pharma companies have entered these markets slowly and somewhat reluctantly. However, emerging markets are also vitally important for the industry, offering an opportunity to refocus business models in a way that both creates business value and expands access to healthcare.
Emerging markets are vitally important for the healthcare industry, offering an opportunity to refocus business models in a way that both creates business value and expands access.
Pharma Futures 3: Emerging Opportunities is a solutions-focused initiative that explores the link between sustainable pharmaceutical business models and global health outcomes in emerging markets.
It is an extension of the successful Pharma Futures (www.pharmafutures.org) series of investor-led dialogues exploring the future of the pharmaceutical industry. These were based on the premise that a better alignment between corporate profitability and society’s need for improved access to affordable healthcare, including medicines, is a prerequisite for a thriving healthcare industry.
Launched February 26, 2009, in London, Pharma Futures 3 is a record of year-long, structured dialogues between the pharmaceutical industry, institutional investors, global health experts and social entrepreneurs about the challenges and opportunities of delivering healthcare in emerging markets. The aim of the dialogues was to collaboratively identify new growth models in these markets, and novel approaches to funding and partnerships to expand access and develop new products for the poorest populations.