Asia-Pacific Pharma & Life Sciences Newsletter – Dec 2010

The PwC Pharma & Life Sciences specialists are pleased to provide you with the fourth issue of our Asia-Pacific pharmaceutical industry newsletter.

In this issue, we present two special reports. The first introduces a PwC report on the Australian pharmaceutical industry. "Issues and opportunities in a time of change" looks at how the industry is seeing significant and accelerating change, and how companies will need to respond effectively in order to thrive in a radically changing and more intensively regulated market. The main findings of this recent industry survey in Australia are outlined in this newsletter.

Our second special report takes a look at how the Singapore government is making important efforts to attract the life sciences industry. From our previous newsletters, you would be aware of the initiatives the Singapore government is taking to support the Medical Devices industry. Now, it has announced a S$3.7 billion investment in the Biomedical Sciences Research and Development for 2011-2015. Read more about that in our special report.

In the compliance section, we take stock of what has happened since the speech on compliance delivered by the Department of Justice in the US a year ago.

Also, read about the key features of the memorandum of understanding agreed between the Australian government and Medicines Australia in the pricing and reimbursement section.

The Taiwanese government has implemented several policies and regulations to stimulate the development of the pharmaceutical and life sciences industry - and details are provided in the regulatory part of this newsletter.

New transfer pricing regulations have been issued in Australia, Indonesia and Japan and transfer pricing audits have intensified in Thailand. More information on this topic in the tax section.

We hope this newsletter is informative. If you would like to discuss any topic in greater detail, feel free to reach out to your PwC territory contact or the specialists credited in each article.