“Over the past five years, Japan’s central government has made great strides in streamlining the approval process for new drugs and medicines. The reduction in the so-called drug lag has led to a drastic improvement in approval times for medicines available to patients in other countries.
According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), other government measures including an “innovation premium” have also helped get new and innovative medicines into the hands of Japanese patients.
How can Japan become a more dynamic market for pharma companies to invest in?
The first important message is that investment is becoming more competitive. Pharma companies invest a lot into emerging markets, so we’re competing with resources to get investment into Japan. The reason Japan is attractive is it’s a fairly predictable environment and innovation is rewarded ….” (EUROBIZ Japan)
Great update on the “Pharma” Market in Japan!!
Reducing the “drug lag” and supporting the introduction of new (Innovative) Medicines will definitely give a boost to this growing market in Japan, attract investments from EU (foreign) Pharma companies as well as being beneficial to Japanese patients. What do you think?
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