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Risk and Regulatory Factors Affecting Location Decisions by Research-Based Pharmaceutical Companies
Published online by Cambridge University Press: 20 January 2017
Extract
This report identifies the risk and regulatory factors that influence location decisions by research-based pharmaceutical/biotechnology companies. The primary data are from interviews with 34 senior executives representing 14 research-based pharmaceutical/biotechnology companies. These interviews provided qualitative information on the particular factors that matter and their relative importance in selecting a host country for an investment. The specific factors that influence the general willingness of companies to invest in a particular country are: industry history, the incremental nature of investments, stability, structure of the pharmaceutical marketplace, access to leading scientists and physicians, adequate supply of skilled workers, sufficient patient population for clinical trials, tax policy, and transport links both within the region served and to global headquarters.
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References
1 The senior executives in management, finance, R&D, and manufacturing who participated in the interviews were from the following companies: Actelion, Amgen, AstraZeneca, Bayer, Eisai, Genzyme, GlaxoSmithKline, Johnson & Johnson, Eli Lilly, Merck, Novartis, Pfizer, Roche, and sanofi-aventis.
2 Rozek, Richard and Dickensheets, Bridget, “Encouraging Cooperation Among the Academic, Government, and Private Sectors in U.S. Biomedical R&D”, in Pugatch, M.P. (ed.), The Intellectual Property Debate: Perspectives from Law, Economics, and Political Economy (Northampton: Edward Elgar Publishing, Inc., 2006)Google Scholar.
3 Rapp, Richard and Rozek, Richard, “Benefits and Costs of Intellectual Property Protection in Developing Countries”, 24 Journal of World Trade (October 1990), pp. 75–102 Google Scholar.
4 One choice was based around clinical rather than scientific expertise and this was perceived as being a much less relevant factor for primary research.
5 Richard Rozek and Bridget Dickensheets, “Encouraging Cooperation Among the Academic, Government, and Private Sectors in U.S. Biomedical R&D”, supra note 2.