Hello, my name is Nobuyuki Shiga, Senior Director and Chief Medical Officer with Quintiles Japan. I'm a practicing physician and have worked on drug development in the pharmaceutical industry for more than ten years.

Today I would like to take a couple of minutes to talk about why more and more multinational companies are discovering the potential of the Japanese market. Quintiles Japan is here to serve such companies including those without a presence in Japan as well as Japanese pharmaceutical companies.

Japan is the 2nd largest pharmaceutical market in the world. The Japan pharma market is estimated to grow by CAGR 1.7 – 4.7% in 5 years, which is the highest among established markets.

Japan is seen by many as an attractive market for 3 key reasons.

First, Japan has a stable healthcare system where all Japanese nationals are covered by a universal health insurance system. At least 70% of all medical fees are paid by the government, so there is no need to worry about HTAs as might be the case in the US or Europe.

Second, from a commercial standpoint, not only are there protective mechanisms equal to the West that are in place for intellectual property and market exclusivity, but drugs that meet “Unmet Medical Needs” have a higher probability of recognition as “innovative” or “useful” drugs where a price premium of between 5 to 120% may be applied.

Third, the Japanese have high brand awareness. Generic market penetration in Japan is far lower than elsewhere; 6.8% in terms of price and 23.6% in terms of volume. Many drugs have been known to retain up to 80% of its sales for multiple years post-patent expiry.

Quintiles Japan has been operating in Japan for over 20 years in clinical and 15 years in commercial. We have global and local market expertise and we provide a wide a range of services - from clinical development to commercialization.

We have been helping western companies with no presence in Japan to develop drugs in Japan with our ICCC or In-Country Clinical Caretaker services for a number of years. We have already completed or working on over 40 protocols of over 20 products.

To summarize, the Japanese pharma market is a large, steadily growing, attractive market in which to do business, and Quintiles Japan can improve your probability of success in Japan because of our proven ability to act as our clients’ local office and provide in market expertise and experience in both the clinical and commercial markets.