ASIA: Japanese pharma market suffers from 'drug-lag'.
The Japanese pharmaceutical market is the second largest and constitutes approximately 13% of the global total but exhibits slower growth than the world average. It is also one of the few high-tech industries in Japan that runs a trade deficit which is currently $3 billion annually.
The market is in a state of 'drug-lag' as it takes, on average, 3.5 years longer for a drug to hit the market than in the USA or Europe. In 2004 36% of the 88 top selling drugs were not available in Japan.
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