This year’s PBIRG conference theme - ‘East meets West: Around the World with Market Research’ - was anticipated to be of great interest to BHI (as in 2006 we conducted research in 26 countries) and it certainly delivered.
Rina Valeny
19 Jun, 2007
PBIRG Conference Review
Savannah, Georgia
06 May, 2007–09 May, 2007
The key focus of the conference centred on the research challenges and opportunities in four key emerging markets, these being India, China, Eastern Europe and Latin America. However, changes to pharmaceutical business intelligence in Western Europe and the US were also addressed. Keynote speaker Terri Morrison (author of ‘Kiss, Bow or Shake Hands’) opened the conference with several useful anecdotes and insights of key cultural protocols and business practices. Did you know that a lack of punctuality is a fact of life in Brazil or that South Koreans do not maintain as much eye contact as North Americans (generally Koreans of equal status will only look at each other only half of the time in conversation)?
In terms of sessions and papers, the conference did not disappoint.
‘Biosimilars: How Close or How Far Away’ provided a fascinating insight into the dynamics that are currently driving the US/EU biosimilars markets. In recent years, the global branding research of biologics has gained much ground and BHI has worked with several biologic brands. However, increasing healthcare costs and the rapid growth in biologic sales are promoting the push for cheaper generic biologics. Moreover, the anticipated entry of key biosimilar players in India, the Far East and Eastern Europe to the EU/US markets suggests a need for the biologic brands to protect themselves against the threat of biosimilars. This poses an interesting strategic dilemma that the existing biologic brands need to consider.
The growing importance of health economics and the recent trend to conduct more research amongst payors were reflected by ‘Addressing the 4th hurdle’. This paper provided stimulating evidence of how cost effectiveness has truly impacted on market access in the US and within the EU, yet it also identified the potential opportunities (as well as the threats) of this trend.
The focus on China as an emerging market for pharma research was highlighted by ‘All roads lead to China: Traversing the Next Frontier’. Over the last 3-5 years, BHI has witnessed the move to conduct research in the vast nation and this is anticipated to grow. At present, China’s pharmaceutical market is seen as providing a significant opportunity with the potential to double in size and become the seventh largest pharma market by 2010. Amongst the paper’s many fascinating elements, it revealed the differentiated aims and approaches that are being adopted by a range of pharmaceutical companies to fuel the growth of their global brands in this all important market.
Finally, ‘Best Practices for Global Marketing Research: 120 tips in 120 minutes’ provided a practical overview of how to conduct global research in both emerging and established markets. Although largely unsurprising to the seasoned global researcher, the actionable best practices were well received by an audience dominated by US client marketeers who appeared to be keen on extending the scope of their research outside of their domestic market.
Overall, the PBIRG conference was very thought-provoking and provided an ideal platform to meet many of our peers and clients from across the Atlantic, and beyond. In this way, it succeeded in developing a greater understanding of the key issues for pharmaceutical research in both the East and the West.
Your response:
Login to respond to this article: