With the core markets in Europe and the US slowing down, biopharma is going outside its comfort zone in search of future growth by embracing emerging markets. New opportunities abound but the vast and varied challenges of ‘pharmerging’ markets can be daunting for the unprepared.

While the economies of developed world struggle to register any growth, the emerging markets are riding an unprecedented economic wave, with a collective compound growth rate between 2011 and 2015 estimated by many analysts at around 15%. The Wall Street Journal quotes the IMS Health view that drug sales in emerging markets will grow by $157bn over the next five years, reaching at least $345bn or about a third of global drug spending.