Thursday, July 31, 2008
Looks like pharma and the FDA need some damage control in the public opinion department. Americans don't trust drugs bearing a "Made in China" or "Made in India" label, according to a new study conducted by American University, and they blame drug companies for the rising cost of meds. The American public also doesn't understand the FDA's role in drug oversight and isn't thrilled with its performance on drug safety.
Though 88 percent of those polled said they thought drugs made in the U.S.A. are safe, only 14 percent trusted drugs made by the up-and-coming Chinese and Indian manufacturers. And 82 percent of those polled said they trust the FDA, but 47 percent said they thought the agency did only a fair or poor job.
Nearly half thought drug company profits were the chief cause of escalating prescription costs. - read this article from HealthDay
Related Articles:FDA offers safety reforms to skeptical lawmakers. ReportChina now leads India in ongoing clinical trials. ReportChina to overhaul drug safety regulations. ReportCounterfeit drugs plaguing Big Pharma. Report
Wednesday, July 30, 2008
Posted on Tuesday, June 13, 2006 1:48:34 AM by nicollo
by Dominique SchroederSun Jun 11, 1:54 AM ET
New lands to conquer for luxury brands, China and India both represent markets with a strong potential but which will need tailor-made approaches to take account of the different brakes on their development.
China is now the world's third biggest market for luxury goods, the director general of the polling institute IPSOS-France, Stephane Trucchi, reminded an international seminar on the luxury industry organised in Paris. China now accounts for 12 percent of sales, after Japan (41 percent) and the United States (17 percent), the French economic daily Les Echos reported.
In 2010, 250 million Chinese consumers, that is 17 times more than today, will potentially buy luxury goods.
In contrast to the United States and Europe, luxury consumers in China are young, aged 20 to 40 (compared with 40 to 70). And the clientele is becoming increasingly feminine with the growing economic independence of women, accounting for only 25 percent of sales in 2001 but already 45 percent by 2005.
China boasts several advantages: not only are "the rich" more numerous, but they are growing in number in medium-size cities, which themselves are mushrooming with rampant urbanisation. Moreover, the policy of one-child-per-family and the ageing of the population is leaving "a disposable income for consumer goods," Trucchi said. The development of China as a tourist destination, which has been given a boost by Beijing's selection to host the 2008 Olympic Games and the Universal Exhibitioni Shanghai in 2010, is another "lever of growth" on the Chinese market, he said.
But this promising market nevertheless presents serious difficulties which must be taken into account before any luxury good brand attempts to set up shop on Chinese soil. A major drawback is counterfeiting, which is a big risk for luxury brands, the chief executive of Lancel, Marc Lelandais, told the seminar.
Another downside is legislation limiting the activities of foreign investors. Furthermore, the Chinese are traditionally savers and rarely seek credit to buy consumer goods.
To succeed, luxury brands must devise a long-term strategy to guard against the fickleness of Chinese consumers, Trucchi said. They need to set up shop in prestigious places, rely on competent local partners and recruit and train their personnel locally, he said.
Growth figures for India are less impressive, but with an increase in the Gross Domestic Product of 5 percent in the past five years and a purchasing power that doubled between 1999 and 2003, India possesses "real potential," Trucchi believes.
But the distribution of luxury goods remains limited. There are few shopping centres or points of sale for luxury goods outside India's top class hotels, noted Denis Morisset, the executive director of ESSEC, the Paris-based international business school, who deplored the lack of outlets.
Apart from strengthening the visibility of luxury brands, setting up in India would have to take account of national sentiment of belonging to a strong cultural tradition and would need to adapt to this local culture, Trucchi said.
By SOMINI SENGUPTA and HOWARD W. FRENCH Published: April 10, 2005
Dibyangshu Sarkar/AFP — Chinese spectators waved Indian and Chinese flags Saturday to welcome the Chinese prime minister, Wen Jiabao, to Bangalore, India.
EW DELHI, April 9 - Wen Jiabao, prime minister of China, began a four-day visit to India on Saturday just as the two countries - a third of humanity - are coming into their own at the same moment, with the potential for a dynamic shift in the world's politics and economy.
The impact on the global balance of power, the competition for resources and the health of the planet is causing many analysts and political leaders to sit up and take notice.
"Both countries have waited 3,000 years for this moment," said Gurcharan Das, the former chief executive of Procter & Gamble India and now an author.
One time rivals who went to war in 1962, India and China today find their economies growing at a remarkable clip. Both have a giant appetite for energy. Both are hungry for new markets. And both, it seems, are now gingerly testing the possibilities of doing business together.
It is not an accident that Mr. Wen began his visit not here in the capital but in Bangalore, the southern high-tech hub whose phenomenal rise China has eyed.
Trade is booming between them, especially as seen from the Indian side: after the United States, China is now its second largest trade partner, and it is growing by a giant 30 percent each year to an estimated $14 billion this year.
For the United States and the rest of the world, the effects of the sudden awakening of the Asian giants could be profound. In the years ahead, it may mean more downward pressure on wages, the outsourcing of more jobs, greater competition for investment and higher prices for scarce resources.
Indeed, Beijing's overtures toward India, though clearly made with the economic opportunities in mind, are also being contemplated with a keen awareness of China's rivalry with the United States. Washington has also courted New Delhi, lately promising to help make it a major world power.
India and China say they will push hard to resolve a decades-old border dispute. There is talk of a free trade agreement as well as joint oil exploration and purchases of commercial airliners. China may even endorse India's bid to become a permanent member of the United Nations Security Council, or at least strongly hint at its support.
But Stephen P. Cohen, a senior fellow at the Brookings Institution, says relations could become difficult.
"As long as their relationship remains trade, economic ties, cultural, even kibitzing with the U.S., that is fine," Mr. Cohen said, "but as soon as you get some confrontation, on the border, Chinese goods flooding into India, or an incident at sea, or in Tibet or Nepal, then things quickly become much more nationalistic and complicated."
Indeed, competition is as much the byword as cooperation. The day after Mr. Wen arrives here, work is set to begin on India's first Indian-built aircraft carrier.
China is increasingly on people's minds here, both as a model to be learned from and a cautionary tale. From boardrooms to think tanks to op-ed pages, Indians speak often nowadays of matching their neighbor's success and power, or as some now dare suggest, surpassing it.
"Reinventing the silk route" was the headline of a column on Tuesday on the op-ed page of The Economic Times, a financial daily. The latest edition of Business World, a weekly, asked on its cover: "India and China: What can they do together?"
The short answer is more and more. Chinese-made toys, toasters and televisions have proliferated across the Indian marketplace. On any given day, a shopper at Chandni Chowk market in Delhi can pick up a Ganesha idol, or electric versions of the traditional oil lamps,or water pistols used to splash passers-by during the spring festival of Holi - all made in China.
India exports raw materials for China's booming construction industry, largely ore, iron and plastic, and its pharmaceutical companies have begun producing drugs for the Chinese market.
Indian software services companies, too, have set up shop in China for development and customer support. At least one Indian company, Zensar Technologies, has set up a joint venture with a Chinese firm and is bidding on a large e-government contract in one Chinese province.
Laidler Associates explains how manufacturing and assembling machines in low-wage countries such as China and India can benefit European businesses.
While western manufacturers may fear the impact of imports from low-wage economies, Laidler Associates believes its work in the likes of China and India will actually benefit many European manufacturers.
Managing director Paul Laidler explains: “The UK is still seen as having a major manufacturing base, but we have to recognise that definitions of manufacturing are changing. Successful UK and, indeed, other European companies are the ones that focus on the entire manufacturing process, from market assessment and product design through to manufacture, support and service delivery. In that light, a manufacturer can think about its operations on a global basis, with design in one country, contract manufacture in another, assembly in a third, and possibly the back-up spread world-wide.
“It is a natural progression, then, that we are seeing an increased emphasis on manufacturing through partner companies in the likes of China and India, and that other companies in those regions should be looking to export their products into Europe. But none of that can happen without stringent CE marking compliance procedures, and that is where Laidler Associates can help.”
Consultants from Laidler Associates have made numerous visits to both China and India, assessing over 100 individual projects and offering training in assessment procedures. Paul Laidler states: “Over the years we have seen an ongoing requirement for companies in China and India to use us as their European support arm – as a notified body to assess their products when they want to export into Europe.
09 June 2008
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