Again thanks zecs. Is my birthday today, so this is very much a...

Again thanks zecs. Is my birthday today, so this is very much a welcome post!

I'm posting here an article (June 2019), from the Pharma Letter and titled Japan pharma market review.

The British based Pharma Letter states that it provides subscribers with daily, up-to-date news, business intelligence, comment and analysis for the pharmaceutical, biotechnology and generics sectors of the health care industry, backed by a team of respected writers with many years of experience in the field. The following is a link to an article from the Pharma Letter.

https://www.thepharmaletter.com/article/japan-pharma-market-review

Some key extracts:

Gross domestic product (GDP) in Japan is about $5 trillion, and the country’s pharmaceutical market is one of the largest in the world, with figures from the Ministry of Health, Labour and Welfare (MHLW) indicating a market value of about $95 billion, including non-prescription medications.

It is not without reason, then, that most major drug makers regard Japan as only a close second to Europe in terms of strategic prioritization.

In line with steps taken by other major regulators, the Japanese government has acted to try to expedite the development and approval of novel drugs.

The Japanese regulator aims to finish reviewing a new drug application within one year in most cases, and just nine months for priority cases, making it one of the fastest major regulators in the world.

Hope this adds something to compliment the contributions undertaken by zecs.