Minna A. Damani
704-10 Kingsbridge Garden Circle
Mississauga, ON L5R 3K6
About the Author:
Minna A. Damani serves as Editor for CanBiotech's BioMedical Outsourcing Report. She holds a Bachelor of Science in Biology from the Massachusetts Institute of Technology, a Masters of Science in Biomedical Engineering from Brown University, and a Masters of Applied Science in the area of Management of Technology from the University of Waterloo. Her experience and expertise lie in the areas of biopharmaceutical commercialization, technology transfer, and partnership development. Her association with CanBiotech has enabled her to expand her expertise to the area of biopharmaceutical outsourcing and international business-to-business development.
The pressure to reduce costs and increase productivity has been a strong driving force for the growth of the biopharmaceutical outsourcing sector. Furthermore, greater complexity in drug discovery, development, and regulatory processes are encouraging the view that outsourcing is a means to easily and cost-effectively gain access to specialized resources, technology, and expertise. Indeed, a large research talent pool in China, having the required knowledge and technical skills, is attracting the Western biopharmaceutical industry to pursue outsourcing opportunities in the region. China is currently a $10-$13 billion market and is the fastest growing biopharmaceutical market in Asia. The market is growing at double-digit rates and is likely to be the world's third largest, after the U.S., and Japan. Asian entrepreneurs are already taking advantage of the low wages, the low clinical trial and production costs the country offers. Political, economic, and technological changes in China will equivalently provide opportunities for Western biotechnology, pharmaceutical, and outsourcing companies. Through the use of brief case studies, we analyze both emerging opportunities and challenges the Chinese market presents for these Western partners.