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Generics Market Forecasted to Grow in Southeast Asia
Date:9/13/2013

KUALA LUMPUR, Malaysia, Sept. 13, 2013 /PRNewswire/ -- With its fast-growing, young population and uninsured majority in Southeast Asia, countries in the region represent a great opportunity for generics in the pharmaceutical industry.  Rhett Hemedes, Head -- OTC Marketing, Great Eastern Drug Co. Ltd., one of the speakers at CPhI -- Generics Southeast Asia Summit 2013, notes, "Generics in Southeast Asia, while relatively small in size are growing rapidly as access to medicines are improving. This means that competition will intensify and the business will become tougher for local players and a continuing opportunity for the multinationals. Operations will be critical given the increasing availability of unbranded generics and price erosion as well as the increasing regulatory requirements. With the bigger markets with low access to medicines such as Indonesia opening up, the competitive environment will expand with the total number of players expected to increase at a lower marginal profit, hence the need for operational efficiency." 

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By 2016, market has been forecasted to grow to US$3.9 billion and both Big and local pharma are looking to capitalise on the opportunity. Regulatory, market access, issues and drivers are some of the topics that will be addressed on September 23rd at the CPhI -- Generics Southeast Asia Summit 2013 conference in Bangkok. One of the speakers, Marcus Pitt, President Director/CEO, SOHO Group also commented, "There are a number of key factors that will influence the rise of generics throughout the region, these include government spending, foreign investment, price, innovation, infrastructure development, growth in number of healt
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SOURCE UBM Conferences (ASEAN)
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