Emerging markets are predicted to account for a third of global pharmaceutical spend by the end of next year – and seen as critical for the sustained growth of leading pharma companies. The report summarises the findings of a Cambridge Consultants workshop held in Mumbai, India, earlier this year. The product design and development firm brought together senior personnel from both Indian and multinational pharma companies to debate whether emerging markets can be an opportunity to drive sustainable growth. The consensus was that the term ‘emerging markets’ covers nations in parts of Africa, the Middle East and South East Asia, as well as the more traditional countries of Brazil, Russia, India and China. But all the delegates said emerging markets cannot be grouped into a single cluster to chalk out common strategies. Clustering markets around parameters such as regulatory pathways or therapeutic applications was considered the best approach. “Emerging markets are facing rapid growth of chronic ‘Western’ diseases like diabetes, hypertension, chronic respiratory problems, cancer, heart disease and neurological disorders,” said Ambuj Jain, India general manager at Cambridge Consultants. “In some cases, conditions like diabetes are turning into near-epidemic situations. “In India, for example, the prevalence of diabetes and cancer is projected to rise by 25-40% over the next 10 years. This shift gives pharma companies an opportunity to market their global products in emerging markets, backed by tested ‘go-to-market’ strategies and operating models.” The report says key barriers which need to be addressed in many emerging markets are the affordability and accessibility of medicines. Improvements in affordability will be driven by rising disposable incomes and increasing insurance coverage. Growth in accessibility will come from increases in government spending and medical infrastructure, and new business models for rural areas. The acceptability of medicines is also expected to rise, as a result of the growth in chronic conditions – and the resulting increase in the self-administration of drugs. Workshop delegate Sanjay Bhanushali, a director of global pharma company Cipla, said: “Emerging markets are critical for the sustained growth of leading pharmaceutical organisations. They represent a significant proportion of the world’s population and many of their governments are increasingly focusing on improving healthcare. Innovation and technology – with the emphasis on patient and stakeholder needs – will be crucial to success in these markets.” Diagnostics was seen by the workshop delegates as a key focus area where innovation can drive sustained growth.

1. 2015 REPORT
Emerging markets: an opportunity for pharma to drive sustainable growth

2. A workshop hosted by Cambridge Consultants
The rise of emerging markets has been a defining feature of the global economy
this century. The massive uptick in performance within these economies means
they now contribute more than half of global GDP. When it comes to healthcare,
most of these emerging markets are expected to experience double-digit growth.
They’re predicted to account for 30% of global pharmaceutical spend by the end
of next year.
The traditionally lucrative Western pharma markets are becoming challenging
from a growth perspective, with governments exerting downward pressures on
healthcare costs. On top of that, companies are experiencing dwindling drug
pipelines – and the risks associated with developing innovative products for
regulated markets are constantly increasing. In response to these challenges,
corporate boardrooms are now committing dedicated resources to conquer
emerging markets as a way of sustaining growth. The move is driven by the
increasing prosperity in emerging markets, coupled with a growing awareness of
the advantages of good healthcare and healthier lifestyles.
Against this background, Cambridge Consultants engaged in a workshop-
style dialogue with a cross section of senior personnel from both Indian and
multinational pharma companies to debate whether emerging markets are an
opportunity to drive sustainable growth. The participants had a wide range of
backgrounds and expertise – from strategy, commercial and medical to research
and development, marketing and consulting – and represented organisations of all
sizes to ensure insights were gathered from all corners of the pharma industry.
We are grateful to the participants for their willingness to invest a significant
amount of time and effort to attend and share their insights and opinions freely.
This report attempts to summarise the combined vision that was formulated
during the event. It offers a unique insight into the future of this industry, as seen
through the eyes of some of the leading authorities.
We are also thankful to Shivkumar Dega, Chairman & CEO of Pepsico India,
who gave a visionary, insightful and thought-provoking presentation to launch
the event.
Principal conclusions:
§§ Growth trajectory and consumption parameters – such as epidemiological
factors, and the accessibility and affordability of medicines – are key criteria for
shortlisting a market as an emerging market.
§§ Growth in emerging markets will be driven by acute as well as chronic
therapies.
§§ Governments and payers are very important stakeholders and interactions with
them will help with long-term success.
§§ Successful growth strategies will rely on focusing innovation and technology on
patient and stakeholder needs in ecosystems that align with a company’s vision
and values.

3. Sanjay Surendra Bhanushali Cipla Ltd
Kapil Choudhury Dr. Reddy’s Laboratories
Ankeet Doshi Wockhardt Ltd
Amit Garg Dr. Reddy’s Laboratories
Sanjay Ghoshal Dr. Reddy’s Laboratories
Rajaram Iyer Aurobindo Pharma Ltd
Prashant Kane Sun Pharmaceutical Industries Ltd
Mandar M Kodgule Wockhardt Ltd
Shafi Kolhapure Novartis Vaccines India
Jay Shantilal Kothari Cadila Healthcare Ltd
Sushrut Kulkarni Zydus Cadila Healthcare Ltd
Abhay Mehrotra Abbott Truecare Pvt Ltd
Amit Misra KPMG India
Vikram A Munshi WhiteSpace Consulting & Capability Building
Zoya Pandey Abbott Truecare Pvt Ltd
Pratibha S Pilgaonkar Rubicon Research Private Pvt Ltd
Amol Shah M. J. Biopharm Pvt Ltd
Poonam Shenoy Glenmark Pharmaceuticals Ltd
Amardeep Udeshi Cipla Ltd
Participants Hosts
Ambuj Jain
Matthew D Allen
Duncan Bishop
Rahul Sathe
Vaishali Kamat
Kate Hudson-Farmer
Vangelis Papagrigoriou
Patrick Pordage
Darina Cotterill
Emerging markets: an opportunity for pharma to drive sustainable growth
01

4. Emerging markets: an untapped
opportunity for growth?
Identifying an emerging market
Before looking at specific strategies for emerging markets, it
is important to identify which countries are included under
the category of ‘emerging’. Are the most common names of
Brazil, Russia, India and China the only contenders – perhaps
along with South Africa, Turkey, Mexico and the countries of
Eastern Europe? Or should nations in the Middle East, North
Africa, Central Africa and South East Asia also be included?
These markets display considerable diversity in their stages
of development.
All the workshop participants agreed that emerging markets
are currently under-penetrated so most pharma companies
will wish to capitalise on the opportunity. There was a
unanimous opinion that emerging markets cannot be grouped
into a single cluster to chalk out common strategies – the
markets’ diversities are too broad to permit this. Clustering
markets – on the basis of identified common parameters
– and then treating each cluster separately was felt the
best way to approach the problem. Some of the parameters
could be based around regulatory pathways and others
around therapeutic applications. Once clustering has
been completed and corporate portfolio needs shortlisted,
companies should focus on therapy areas where they can
already demonstrate strength and can therefore build quickly
into the new markets.
The group had strong opinions about demand and supply
issues being key parameters for shortlisting a market as part
of a cluster. On the demand side, adapting to changes in
local consumption patterns and capitalising on associated
growth were judged to be critical. Such guidance might
seem obvious but the final decision on which market to
prioritise will also be dependent on a company’s financial
objectives. For example, South Africa may be bigger in size
and growing, but a company may prefer launching in Vietnam
first which, although smaller, may provide a faster return on
investment. Supply factors include considerations of systems
development – for example, regulatory pathways, and
healthcare and supply chain infrastructure – and how focused
governments are on providing healthcare to their citizens.
When deciding whether to enter a market, an organisation
has to balance the demand and supply parameters with its
own company culture, resources and vision.
As noted above, the selection of emerging markets may
be driven by the priorities of the respective national
governments when it comes to providing healthcare services
to their citizens. Each government has a role to play in
how its population accesses healthcare. In some countries
(eg Singapore, Colombia, Oman) governments play a very
active role in providing healthcare, whilst in others (eg
Nigeria, Myanmar) their role is more passive. A number of
governments in emerging markets have learnt from their
mature market counterparts and are therefore looking to
retain greater control of their pharma markets – Uganda is
an example of this. Those markets where governments have a
more active role in providing healthcare are higher priorities
for pharma companies because, instead of establishing big
multifunctional operations, a company can deal with the
government directly and secure access and affordability.
Focus areas in emerging markets
In considering market selection on the basis of therapy areas,
delegates were clear that communicable diseases will remain
a major focus area in emerging markets as they still provide a
core revenue stream. But strategic investments will be more
inclined towards chronic diseases.
Communicable diseases like tuberculosis, HIV, malaria,
water-borne diseases and hepatitis are highly prevalent in
most emerging markets so the focus is on making sure the
maximum number of patients have access to medicines.
But the same set of markets is now facing rapid growth
of chronic ‘Western’ diseases like diabetes, hypertension,
chronic respiratory problems, cancer, cardiac diseases,
neurological disorders and allergies. In leading emerging
markets like India and China, many of these conditions
– for example, diabetes – are turning into near-epidemic
02
Emerging markets: an opportunity for pharma to drive sustainable growth

5. situations. In India, the prevalence of diabetes and cancer
is projected to rise by 25-40% in the next 10 years. This
shift gives pharma companies the opportunity to market their
global products in emerging markets, backed by tested
‘go-to-market’ strategies and operating models.
Key barriers which need to
be addressed are access and
affordability
Non-innovative companies must manage how they are
perceived in emerging markets. Whilst they may be labelled
as ‘generic’ suppliers in the US and Europe, in other
places they will want to be seen as more than providers of
commodity medicines. Hence, in most of these markets, the
companies are predominantly marketing ‘branded generics’
– drugs that are bioequivalent to the original product but
marketed under the company’s brand name. This leads
to a specific need for differentiation which is essential to
establish the product as a ‘brand’. In the future, the need for
additional differentiation by branded generic companies – in
a market overflowing with multiple options – is expected to
rise to enable the requisite sustainable growth.
Key barriers which need to addressed in many emerging
markets are access (the extent to which consumers are able
to readily acquire and use a product) and, to some extent,
affordability (the extent to which consumers in the target
market are able and willing to pay a product’s price). The
affordability, accessibility and acceptability of medicines are
expected to increase significantly in major emerging markets.
Affordability improvements will be driven by rising disposable
incomes and increasing insurance coverage. Rises in
government spending, growth in medical infrastructure and
newer business models for rural areas will drive growth in
accessibility. Meanwhile, investments by pharma companies
in more modern treatment modalities will shape therapy
categories. The growth in chronic conditions – and the
resulting rise in the self-administration of drugs – will
contribute to increasing acceptability, resulting in growing
acceptance of new drug classes like biologics among both
patients and physicians.
03
Emerging markets: an opportunity for pharma to drive sustainable growth

6. Stakeholders – old and new
Just like mature markets, emerging markets have multiple
stakeholders in the value chain. At the moment, typical
emerging markets have the physician at the centre of the
selling process – so that is who pharma sales forces tend to
focus on. This presents a challenge as physicians don’t have
enough time to grant access to all pharma companies – so
there are restricted opportunities for brand education.
But the landscape is evolving quickly and more stakeholders
are expected to become engaged in the selling process:
ƒƒ Patients – with access to information getting easier due to
the internet, and physicians lacking the time to educate
patients, many patients are taking it upon themselves to
know more about their disease, medication, brands etc.
This is leading to patients evolving into active ‘consumers’
and, in the process, becoming more self-reliant. This
evolving ‘consumer’ will have implications for pharma
companies in terms of how and what to communicate.
For example, in the management of acute infection,
companies need to communicate simple key messages
about the importance of completing therapy. Patients
who cease therapy early when their symptoms subside
may subsequently relapse and blame this on poor-quality
medication. This is important for pharma companies as
such perceptions have a severe impact on brand loyalty.
Patient awareness, education and training have a key role
to play in reducing such cases and helping brand growth.
ƒƒ Insurance companies – healthcare insurance penetration
in emerging markets is modest but expected to grow
significantly over the next few years. This means
insurance companies are likely to become more important
in the overall value chain, and become stakeholders in the
consumption process. And if these companies are paying
attention to what’s happening in the US market, they will
structure their plans based on value and performance
from the outset. This could put the same pressures – to
provide evidence of outcome improvement – on pharma
companies in emerging markets as are seen in the
developed world.
Hospitals are instrumental in building
product brands
ƒƒ Pharmacists – the role of pharmacists as advisers is
becoming more important as physicians increasingly
have less time to offer individual patients. In emerging
markets this is even more important as patients often
not only pay for their own medications but also physician
consultations, and may therefore go straight to a
pharmacist in place of a physician.
TODAY
PHYSICIAN
04
Emerging markets: an opportunity for pharma to drive sustainable growth

7. ƒƒ Hospitals – this segment can be classified into private/
corporate hospitals and government hospitals. In markets
like India, private hospitals operate more in urban areas
and, for a pharma company, serving them means building
customised models and undertaking targeted programmes
to drive compliance. Because they are the first point of
care – especially in metro and tier 1 markets – they are
instrumental in building product brands.
Engaging with governments could
be strategically important
ƒƒ Governments – national or state governments could be
important stakeholders, especially in countries where
policies are being put in place to improve healthcare. The
workshop participants strongly suggested that engaging
with governments could be strategically important and
beneficial when a pharma company is attempting to
access a much bigger patient pool. Such a strategy can
help gain a significant share of the market – potentially at
a lower price point.
The way in which pharma companies collaborate with – and
engage – various stakeholders will affect the position and
success they achieve in a market. Cipla, for example, has
benefited by supporting the South African government
in establishing regulations for biosimilars. Others
have collaborated with public organisations such
as post offices or the supply networks of FMCG
companies to leverage their deep penetration
and access to rural areas.
TOMORROW
PHYSICIAN
PATIENT
PHARMACIST
INSURANCE
GOVERNMENT
HOSPITAL
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Emerging markets: an opportunity for pharma to drive sustainable growth

8. Is there a place for innovation in
emerging markets?
Innovation and technology will be important differentiators
for companies trying to drive sustained growth in emerging
markets. The innovation focus and process will be
determined by the overall objectives of the organisation,
aligned with market needs and backed by ‘voice of the
customer’ inputs from patients or other stakeholders such as
governments, physicians or insurance companies.
The relevance and affordability of innovation in emerging
markets was discussed by the workshop participants.
Investment in innovation was deemed necessary for growth
in markets like India, with 80% branded generic penetration,
multiple iterations of the same drug and a dwindling pipeline
of new drugs. Upgrades to therapies using innovation/
technology may be used to improve access to healthcare as
well as patient adherence.
Participants categorically disagreed with the prevalent
perception that the sole focus of innovation in emerging
markets has to be cost reduction. Any concerns expressed
about emerging markets in terms of ‘affordability’ of
technology were felt to be erroneous. Consider the example of
smartphones and how their adoption has penetrated all levels
of society. This suggests that ‘value’, at the right price point,
is more relevant in driving adoption of new technologies.
Innovation focus
Sources of innovation can be varied and include:
ƒƒ Formulations
New options with faster onset of action or longer delivery
rate (for greater tolerability) are some of the focus areas
which could offer the required differentiation. Changing
the particle size of molecules can have a big impact on a
drug’s effectiveness. Developing liquid-stable formats of
drugs currently in the lyophilised form could be another
very positive step forward.
Alternate routes of administration for existing molecules
are also being evaluated by a number of organisations
– some organisations are trying to make injections
less painful through reduction of the injection volume/
composition. Mechanisms to allow biologic/ proteinaceous
materials to be given as orals could also be of great
significance for emerging markets, as these may avoid the
need for complex delivery technology.
Formulation changes have to match market needs to be
sustainable. For example, there are drives to reduce abuse
of pain medication by preventing patients crushing tablets
for abusive purposes. In such cases, a formulation-based
innovation is required – but one which avoids others’
intellectual property.
An example of a focus on increasing acceptability and
compliance is the development of an iodine patch. These
patches are designed like a regular bindi – the decorative
mark worn in the middle of the forehead by Indian women
06
Emerging markets: an opportunity for pharma to drive sustainable growth

9. – and now help more than 100,000 tribal women in
Maharashtra, India, who battle iodine deficiency because
they don’t consume iodised salt. This product delivers the
RDA of 100-150 mcg of iodine by absorption through
the skin.
The use of drug delivery devices is
predicted to rise sharply
ƒƒ Packaging
Packaging innovations can be a good way of making
therapies more patient-friendly and, in the process,
driving growth for pharma companies. They can improve
the usability of drugs – and boost outcomes. An example
of this is DuRecon – a double-chambered container for the
reconstitution of oral dry syrup products. It is a solution to
compliance problems as well as under/overdosing issues
which may arise due to inappropriate reconstitution.
ƒƒ Drug delivery devices
With the incidence of chronic therapies on the increase,
treatments taken at home and managed by patients
themselves are expected to be the future norm.
Accordingly, the use of drug delivery devices is predicted
to rise sharply. Higher adoption of well-designed delivery
devices is expected to make therapies far simpler and
easier for patients to administer. They will offer significant
value to patients in terms of convenience and compliance.
But devices need to be designed to be manageable
without complicated instructions. The ideal is to have
a limited range of highly configurable devices capable
of delivering multiple medications. Therapy areas like
injection and inhalation already have high usage of drug
delivery devices. Further therapy areas like ophthalmology
and nasal delivery have the potential to adopt higher
usage of delivery devices.
The workshop participants were of the opinion that
formulations will be the source of innovation in the short
term, while devices will be medium and long-term strategies.
Structures for driving innovation
For pharma organisations, driving innovation activities
will involve further evolution of the ‘generic’ mindset to
be successful in the shift to branded products. This will
involve evolution in terms of organisational structures,
budget allocations, scale and the time period of return on
investment etc. An innovation culture needs to be nurtured
and company leaders need to support innovation teams for
greater long-term returns.
The workshop participants proposed that companies need to
have separate teams for driving innovation projects – distinct
from regular business project teams. This would mean
classifying the teams as:
ƒƒ Performance engine – relying on the core offering which
drives growth through scale and operational excellence
ƒƒ Innovation engine – relying on driving innovation projects
and, accordingly, contributing to organisational growth
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Emerging markets: an opportunity for pharma to drive sustainable growth

10. Technology as an enabler
Technology is affecting all areas of life and the pharma
business is no exception. Companies are turning to
technology to help address challenges in various therapies
– whether for reducing the pain of an injection or improving
the patient’s experience via devices that are simpler to use.
Another focus area is the drive to be closer to the patient
through connected devices. As chronic disease incidence
grows, the need to engage with patients, to improve medication
adherence and have an impact on the overall outcome,
increases as well. The use of sophisticated devices with
electronics in them is likely to grow. These devices will act as
a platform to transmit valuable data regarding drug usage.
Connected drug delivery devices, along with accompanying
smartphone applications, may initially be developed as
premium offerings – either for expensive therapies that can
absorb the added cost or for high-income self-pay patients
who look for best-in-class healthcare. Mobile networks will
provide a way of having contact with these patients on a
regular basis, which can also help to spread awareness and
develop brand loyalty. Connected devices also have the
potential to monitor compliance with clinical study protocols
when subjects are not under direct clinical supervision.
In the longer term, as connected devices become more
prevalent, companies will need to work through certain
challenges, including:
ƒƒ Data storage and management – companies will need
to develop a strategy to tackle the infrastructure
requirements associated with data gathering, including
access control and data security.
A longer-term focus for promoting
growth will be diagnostics
ƒƒ Data analysis – there will be a need to analyse data to make
it useful. Valuable insights can be generated and shared
with patients, as well as other stakeholders. This could
even open up opportunities for new service offerings.
ƒƒ Recovering investment – developing a connected
ecosystem to accompany a drug does have costs associated
with it, such as the additional cost of electronics in
the device. Recovering these costs is straightforward if
patients are willing to pay a higher cost for connected
devices. But even if that’s not the case, the indirect
revenue from increased market share, as well as other
options that capitalise on the value of the gathered data,
could be sufficient to make the investment worthwhile.
Diagnostics – helping drive growth?
A longer-term focus for promoting growth will be diagnostics.
The prevalence of most diseases is very high in emerging
markets – but a significant proportion of these diseases
are not diagnosed, leading to undertreatment. One of
the problems is that there are not enough diagnostics
laboratories. Often physicians take the route of prescribing
an empirical therapy because the cost of diagnosis is much
higher than the cost of the therapy. For example, antibiotics
are commonly prescribed for respiratory infections where
the causative pathogen may be a virus. Hence innovation
in minimally invasive diagnostics instruments to improve
access to – and the affordability of – diagnosis is expected
to drive growth by screening more patients and putting them
on appropriate therapy. Although this area is not a direct
play for pharma organisations, partnership with diagnostics
companies will be the most likely way for companies to be
successful in this area.
08
Emerging markets: an opportunity for pharma to drive sustainable growth

11. Healthcare ecosystems and
environments
Ecosystems have a central role to play in the success of
a healthcare system as interactions between different
constituents of the system have an impact on the quality of
healthcare delivery in a country.
The constituents of an ecosystem are not restricted
to pharma players and products. Upstream areas like
diagnostics, hospitals and pharmacies, and downstream areas
such as services and insurance, all play a crucial role in the
operation of an ecosystem. For a pharma company, long-term
future success in a particular emerging market depends on a
strategy which takes into account all these considerations.
With the prevalence of chronic diseases increasing, disease-
related services have the potential to become another pillar
of ecosystems. These may vary from the provision of needles
for insulin pens through to alerts/reminders for vaccinations
or the provision of lifestyle advice. They may still not have
the potential to become revenue generators but they have
strong value in attracting and retaining patients, and may
be targeted for specific patient demographics within disease
groups. Pharma companies could further evaluate the model
of partnerships with wellness centres to raise awareness
about diseases. A recent example of this is Sanofi’s
partnership with Apollo. Their joint venture – named Apollo
Sugar – runs clinics with the aim of providing high-quality,
outcome-oriented services for patients and doctors.
Governments continue to be dominant components of
ecosystems. Some may be significantly more active in
delivering healthcare services for citizens, whilst others may
play a more passive role. Engagement with governments
is critical for success in those markets where they play an
important role in the ecosystem. Wherever governments
are focusing on increasing their investments in healthcare,
working with them to increase access to medicines is a highly
recommended option for sustained growth.
A collaborative /synergistic effort by leading pharma
companies was suggested by the workshop participants as a
way of gaining greater influence over ecosystems in specific
geographies. This may involve companies making joint efforts
to overcome common weak links in the ecosystems which
may be bottlenecks when it comes to driving growth.
09
Emerging markets: an opportunity for pharma to drive sustainable growth

12. Impact of regulatory environment
Regulatory guidelines play a significant part in the
management of successful business operations in emerging
markets. A robust regulatory pathway in a market laid out
by competent authorities is seen as a positive indication for
a company trying to finalise its emerging markets strategy.
Strong commercial partnerships in the target market
can also provide significant benefits whilst a company
finalises its entry strategy. A local partner brings contacts,
familiarity with the environment, and the ability to navigate
and manage local relationships in specified time periods for
quick returns.
Emerging markets don’t necessarily
imply weak regulations
The workshop participants were keen to stress that
emerging markets don’t necessarily imply weak regulations.
As they don’t have the capability to develop their own
regulatory guidelines, these markets often adopt regulations
from the US and Europe – which, in the long run, may
result in strict good manufacturing practice (GMP)
regulations for pharma manufacturing.
The variation in regulatory pathways among countries could
help inform the launch roadmap for a new product. As there
will be markets with varying levels of regulatory thresholds,
a market with a lower threshold may become the entry point
for an innovation. Such a market can be used for gaining
product experience – as well as gaining momentum – prior
to taking a product into more restricted markets.
REGULATOR
PATIENT
PHARMA CO
Emerging markets: an opportunity for pharma to drive sustainable growth
10

13. Conclusions
Emerging markets are vital for sustaining growth for
leading pharma organisations. They represent a significant
proportion of the world’s population under the control of
governments which are largely increasing their focus on
healthcare and seeking better outcomes for their people. As
emerging countries vary so much, a pharma company needs
to closely examine its strengths and objectives in relation to
the target markets it wishes to enter.
Successful growth strategies for success in emerging
markets will include:
ƒƒ Continuing the performance engine for base growth
– since emerging markets are significantly under-
penetrated, there is sufficient room for solid base growth
in the short term.
ƒƒ Focusing on innovation and technology, with patient
and stakeholder needs at the centre of that focus but
aligned with a company’s vision and values. The use
of technology or innovation has to be for impactful
purposes. This has to be done in line with identifying
a market need and then adding perceivable value to
address that need.
ƒƒ Recognising that the sequence of innovation focus in the
next 10 years will be drug formulation, followed by drug
delivery devices, followed by patient services.
11
Emerging markets: an opportunity for pharma to drive sustainable growth

14. Emerging markets: an opportunity for pharma to drive sustainable growth

15. For further information on medical device innovation
in emerging markets, please contact:
Ambuj Jain, General Manager – India
Ambuj.Jain@CambridgeConsultants.com
Andrew Barrett, Associate Director
Andrew.Barrett@CambridgeConsultants.com
About Cambridge Consultants
Cambridge Consultants is a world-class supplier of innovative
product development engineering and technology consulting. We
work with companies globally to help them manage the business
impact of the changing technology landscape.
We specialise in helping our clients achieve the seemingly
impossible. We work with some of the world’s largest blue-chip
companies as well as with some of the smallest, innovative start-
ups who want to change the status quo fast.
With a team of around 500 staff in Cambridge (UK), Boston
(USA) and Singapore, Cambridge Consultants has a world-
class reputation as the product developer of choice for leading
pharmaceutical and medical technology companies around the
world. Our drug delivery practice specialises in creating leading
inhalation and injection devices, including metered-dose inhalers,
dry-powder inhalers (DPIs), and needle-free, auto-injection and
reconstitution devices.
Our team comprises drug delivery engineers, aerosol scientists,
industrial designers and regulatory experts. Capable of taking
a project from concept all the way through to transfer to
manufacture, our quality and project management systems meet
the FDA’s quality system regulation (QSR) and are certified to ISO
13485, ensuring that we can deliver fast-track and regulatory-
compliant development programmes to our clients.
As part of our ongoing commitment to global medical innovation,
we would be pleased to hear your feedback on the content of
this report, and to discuss your views on the future direction of
the industry.
Emerging markets: an opportunity for pharma to drive sustainable growth

16. Cambridge Consultants is part of the Altran group, a global
leader in innovation. www.Altran.com
www.CambridgeConsultants.com
Cambridge UK • Boston USA • Singapore