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| Multinational pharmaceutical giants have launched a massive assault on the Korean growth market with its growing scientific reputation. Their CEOs visit Korea themselves and hand-pick Korean doctors to lead international clinical tests. The pharma firms are also increasing investment in Korea. Pfizer's president for worldwide development,hollister france, Joseph Feczko,louboutin pas cher, came here Wednesday with some 20 top executives to take a look around research facilities and find partners in developing new drugs. The first drugs heavyweight to visit Korea was Novartis CEO Daniel Vasella in 2005. AstraZeneca CEO David Brennan followed suit this April, with Bristol-Myers Squibb president Lamberto Andreotti in hot pursuit.
The firms send key executives or leading managers from headquarters to Korea. Their investment here has risen -- because their Korean operations carry out an increasing number of multinational clinical tests,hollister pas cher, and because they are partnering with Korean biotech ventures. Novartis is conducting 45 tests here,air jordan, Pfizer 43 and Sanofi Aventis 33,louboutin, twice as many as last year. Novartis promises to invest W50 billion (US $1=W957) in Korea to help Korean operations make it to the top 10 in the world in terms of R&D over five years. AstraZeneca plans to invest W26 billion over three years and Pfizer W19 billion this year alone here. Korean doctors are at the helm of testing. Sanofi Aventis selected Prof. Bang Yung-jue,hollister, a Seoul National University internist,ralph lauren pas cher, and Pfizer Prof. Rha Sun-young,nike air jordan, of Yonsei University��s cancer research institute. But the market is the main engine,ralph lauren, since Asian markets are still growing while the U.S and Europe are stagnating. The pharma giants see continued double-digit growth in Korea, the world��s 11th largest market for their drugs. Novartis saw sales more than double between 2002 and last year,oakley sunglasses, and a spokesman said the Korean branch showed the most rapid growth in the Asia-Pacific region. AstraZeneca Korea CEO Lee Seung-woo says the mother company chose Korea as one of three investment targets with Mexico and China since its Korean operation recorded the highest growth among its overseas arms in 2004. Another appeal is the country��s highly qualified medical personnel and its well-equipped infrastructure. A GlaxoSmithKline official says Korea is very convenient for the company to conduct clinical trials since there are several large-scale hospitals with some 1,vanessa Bruno,000 beds in Seoul alone. They are as good as any in advanced countries but cost less, he said. It is here that Korea has the edge over China and Japan, since it is still difficult to get reliable test results from the former and the costs in the latter are astronomical. An industry insider says Korea��s rapidly aging population also appeals to pharma firms,air jordan pas cher, because an increase in elderly people will lead to a rise in demand for treatment of chronic diseases and a surge in consumption of their products. Korea thus serves as a litmus test for the companies to predict the future of the market as developed countries worldwide age. 相关的主题文章: safety and fuel efficiency but Japan is apparently bent on "transfer Traffic on expressways across the country increased compared to last year's holidays, but drivers were able to avoid clogged-up routes by keeping track of related information on their smart mobile devices. |
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