Biotech Values

[DewDiligence]

Answer to Third World quiz:

Russia* is a good pick for exactly the reasons you cited; however, the country I was thinking of is Venezuela, which may have the highest prescription-drug prices of any “emerging market” country. On a 2009 webcast, SNY’s head of global pharma, Hanspeter Spek, cited Venezuela as an especially attractive market for SNY because:

• There is little if any meaningful competition from local drug companies.
• Due to political instability, US-based Big Pharma have scaled back operations in Venezuela or left the country entirely.
• Hugo Chávez considers France a “friendly” nation and acts accordingly.

According to Spek, the third bullet above is the most important one.

*If considered part of the Third World rather than the Second World :- )