Damien Conover talks about emerging markets and the channels for pharmaceutical companies to succeed there.
Damien Conover: When we look at the pharmaceutical landscape over the last few years, we’ve seen valuations improve significantly. A lot of this is being driven by three key areas. The first of which is the end of the patent cliff, which really peaked in the 2012 time period. The second point is the growing importance of emerging markets, which are offering a new channel of demand for pharmaceutical products. The third reason has to do with increased productivity in the pipelines, which will bring forward next-generation drugs at a much faster rate than what we have seen for some time.