Pharma's Emerging Markets: Key Strategies For The BRICM

BRIC is a common acronym for emerging global markets - Brazil, Russia, India and China. Add Mexico into the mix and BRICM is pharma's largest engine of market growth. According to eyeforpharma's 2011-2012 industry report, while developed markets are expected to have single-digit growth, the BRICM countries are forecasting 50 percent average growth in the next five years.

Entering new markets is always a challenge, especially "underdeveloped" markets. A primary challenge is understanding local culture and customs. Another common difficulty is understanding regulatory requirements. A strategic solution would be to acquire local presence expertise through partnerships. To understand a brief market overview and the competitive landscape of the BRICM countries, let us look at each country profile.