Generics and biopharma poised for growth in Asia, says Frost & Sullivan

The global recession of 2009 left a deep impact on the health care industry in the USA and Europe. Asia Pacific countries a suffered similar crisis, but recovered significantly faster than their western counterparts, notes a new report from Frost & Sullivan.

Mergers and acquisitions have been the recurring theme for big pharma as they actively explore opportunities to acquire smaller biotechnology and generic companies to bolster their pipeline and expand their product portfolio.

Global consolidation left the challenging task for integration at local levels that necessitated portfolio realignment and resulted in retrenchments and pay-cuts. Mature markets such as Australia and Japan with slowing Gross Domestic Product (GDP) took big hits, while price-cutting and lowering of margins were part of the survival strategies necessary to stay competitive in the market.