Big Pharma Drug Deals Target Asian Sources

Source: Healthcare Digital

Date :12/05/2008 02:31:38

Pfizer Inc., GlaxoSmithKline Plc and other U.S. and European pharmaceutical companies will increasingly sign long-term contracts with Asian drugmakers, according to a Citigroup Inc. report.

The report published on May 8 says: “We see more companies beginning to look on contract manufacturing and research services players as partners rather than mere suppliers or vendors.”

Based on the bank's annual survey of pharmaceutical and biotechnology companies, it continues: “The number of respondents willing to outsource to Asia - including India and China - has increased materially.”

Preferred plays

Mumbai-based Nicholas Piramal Ltd and Shanghai-based WuXi PharmaTech Cayman Inc are seen as “preferred plays” on this opportunity.

Two other Indian drugmakers - Dishman Pharmaceuticals & Chemicals Ltd and Jubilant Organosys Ltd - were also cited as best plays among Asia's contract manufacturers.

May 12, 2008