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At a time when the life sciences and pharmaceutical companies worldwide are experiencing major issues, such as the threat of generics, the soaring cost of drug approval and the failure of tests on the key new drugs potentially decisive, China has developed a strategy of targeted public investment. As part of various national and regional programs, China is spending billions to develop a new "safety net" for health care, encouraging the growth of parks and ups of life sciences, funding the creation of an infrastructure of high quality research and encouraging the return of tens of thousands of Chinese scholars trained in the West.
Today, Monitor Group, a firm global management consulting, has released a new report entitled "China, the Leader of Life Sciences 2020", which indicates that China will become the world leader in the discovery and innovation in the field of life sciences over the next ten years.
At a time when the life sciences and pharmaceutical companies worldwide are experiencing major issues, such as the threat of generics, the soaring cost of drug approval and the failure of tests on the key new drugs potentially decisive, China has developed a strategy of targeted public investment. As part of various national and regional programs, China is spending billions to develop a new "safety net" for health care, encouraging the growth of parks and ups of life sciences, funding the creation of an infrastructure of high quality research and encouraging the return of tens of thousands of Chinese scholars trained in the West.
"In just ten years ago, short-term maturity in the field of life sciences, China will not only become an important driver of innovation, but it also has the potential to create a new model for advanced drug discovery, "said George Baeder, co-author of the report, who heads the division of life sciences in China for the Monitor from its office in Shanghai. "No other industry has been able to predict how quickly China can adapt to and influence the world stage." Mr. Baeder also indicates that the pharmaceutical industry must now also be on their guard.
Based on studies and interviews with dozens of professionals in life sciences in the United States and China, the Monitor report notes that the industry life sciences in China is now attracting a critical mass of venture capital investors informed, determined and highly skilled, and a growing public support, as and when the market drugs and medical devices is growing. The Chinese domestic market is expected to overtake that of Japan and become the second largest market globally by 2015, while global pharmaceutical companies are forced to reduce staff research, many now realize that China is a destination for cutting-edge research.
Monitor notes that:
* At least 80 000 doctors (PhD) in life sciences, trained in the West, have already returned to China to work in the sector or academic institutions. The rate of return of these highly qualified researchers is expected to accelerate over the next ten years.
* China will mobilize U.S. $ 124 billion between 2009 and 2012 only, to build new hospitals, city and county, as part of his large-scale reform of the health system.
* An exclusive survey of professional Monitor with Chinese life sciences who are currently working in the U.S. found that two thirds of them are considering whether to return permanently to China, is to become "migratory birds" circulating continuously between China and the United States in search of business opportunities and research. The report alleges that "migratory birds" and companies "hybrid" they create will become important drivers of innovation in life sciences in China, because the largest pharmaceutical companies are forced to focus on their points strengths and reduce their numbers in areas where they have failed to create new therapies.
The report also illustrates how entrepreneurs, professionals in life sciences and key university develop new innovative models of pharmaceutical research and development in China, based on clinical research laboratories Chinese to accelerate their work in the hope to create better medicines in a shorter time frame. The report also lists a number of risks and pitfalls that could limit China's progress, noting, however, the ability of government regulators to encourage innovation while ensuring the high quality of drugs manufactured in China.
China, the Leader of Life Sciences in 2020, is the latest in a series of reports on the global impact of China in various sectors. All reports are available at www.monitor.com.
About Monitor Group
Monitor Group works with corporations, governments and social sector organizations in the world's most important to help resolve issues that are essential. This firm offers a wide range of services: consulting, development potential and capital services, designed to solve the challenges posed by the search for steady growth. Founded in 1983 by six entrepreneurs, including Michael Porter, professor at Harvard Business School and Mark Fuller, the current chairman of Monitor, the firm provides ideas, approaches and methods of avant-garde, to deal with the problems most complex and seize the opportunities of its most important clients. The company, headquartered in Cambridge, Mass., employs over 1500 people in 22 countries worldwide. For more information, please visit the site www.monitor.com.
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