At World Vaccine Congress Asia last June, Patrick Bergstedt, President, Asia Pacific of MSD, Labeeb Abboud, General Counsel & SVP Business Development of International AIDS Vaccine Initiative and Stanley Chang, Chairman & Chief Executive Officer of Medigen came together to discuss how Asia can play a role for the global vaccine industry.
The discussion centered around the need for closer working relations between companies and government bodies, in getting approval and funding for vaccines as well as other resolving concerns and issues. With the availability of funding, it was mentioned that the focus should also be on improving clinical environment and building of better infrastructure to enhance the physical condition of the facilities.
Stanley then gave the audience an overview on Taiwan's vaccine market; where there is a potential market in developing their own vaccine. After the H1N1 incidents, the government decided that the country needed to be self-sufficient and started funding companies in developing new vaccine. In in turn had a trickle down effect, where we now see the trend of Taiwanese companies sourcing for potential partners in China, where they presumed to be the future market for vaccine, for these opportunities.
It was also mentioned that low cost production can be achieved by forming partnership, especially when there are a tremendous amount of key participants in the market like local partners and government who are interested in offering support and collaboration in accessing vaccine.
Developing countries like China and India, who has the biggest market in producing vaccine, have also offers support in the area of research and development that will help companies to scale up their business.
Continuing on this topic, the panellists then drew attention to the importance of raising awareness worldwide to let governments and people understand the need in taking vaccine.Â The panel concluded with the common view that different countries in Asia should collaborate with one another to resolve any difficulties they faced in producing new vaccines and to tackle the biggest concern companies faced in achieving cost-effective manufacturing; where they can work together to attain differentiated pricing model.
More issues like these will be discussed at next year's World Vaccine Congress Asia. Visit our website for more details! www.terrapinn.com/vaccineasia