Three global companies have announced a joint venture to commercialize pharmaceutical products in the Asia Pacific region. Partners in the joint venture, which will have an investment fund totaling US $112 million, include Asia Pacific pharmaceutical services group, Interpharma Asia Pacific, parent of drug distributor Zuellig Pharma; Asia investment company Temasek Holdings (Private) Limited; and Quintiles Transnational Corp., a pharmaceutical services organization, who has signed a letter of intent to join the venture. Each partner is expected to make an equal investment in the joint venture and own one-third each of the company.
The joint venture will draw on each partner’s wide market knowledge, experience and success in both the Asia Pacific and global healthcare markets to acquire existing and new pharmaceutical products from research-based drug companies targeted at the needs of the Asia Pacific region. This service helps drug companies focus their resources on R&D and provides outsourcing for product registration and sales and marketing of their mature brand portfolios.
PharmaLink, the specialist Asia Pacific pharmaceutical marketing services division of Interpharma, will be transferred to the new JV and will help negotiate the acquisition of these products and their subsequent marketing in the Asia Pacific healthcare market. Zuellig Pharma will provide distribution and logistics expertise. Quintiles will contribute regional commercialization expertise and experience in pharmaceutical outsourcing partnerships.
Mr Fritz Horlacher, Chief Executive of Interpharma said, “Interpharma has been in Asia Pacific for more than 60 years and operates in 13 countries in the region. We believe that we will be able to actively apply our experience and knowledge of local Asian markets. We are pleased to partner with Temasek and Quintiles in this venture as we all share a common vision of the exciting growth opportunities in the Asia Pacific healthcare environment.”
Dr Dennis Gillings, CBE, Chairman and Chief Executive Officer of Quintiles Transnational said, “The joint venture can provide flexible solutions for pharmaceutical customers in the Asia Pacific region in managing their product portfolios. Quintiles’ global clinical knowledge aids in portfolio evaluation and our experience in commercialization and pharmaceutical partnerships complements well the capabilities of our JV partners. Together, we are a commercialization powerhouse.”
Mr S Iswaran, Managing Director, Strategic Development of Temasek Holdings said, “Temasek has invested in several biotech and pharma ventures globally. This investment fits in well with our view of growth prospects for Asia and our overall investment strategy for the life sciences. We are pleased to partner with Interpharma and Quintiles, whose knowledge, networks and experience in Asia Pacific will be valuable to the success of this joint venture.”
According to a leading source of pharmaceutical market intelligence, the Asia Pacific pharma market, currently estimated to be US$21 billion, has more than doubled over the last 10 years and is projected to double again over the next 10 years.
The joint venture will be managed by a professional team led by Mr Brian Nichols, Chief Executive of PharmaLink, who has more than 30 years’ experience in the pharmaceutical industry in Asia Pacific. Formation of the three-way joint venture is subject to the execution of definitive agreements, which is expected to occur in a few months.