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New York Pharma Forum will hold its annual General Assembly on December 4th on "The Reinvention of Pharma." This symposium, which is free to attend, will be held at the New York Athletic Club in New York City from 3-5:30 pm. The event's speakers include:
Drug companies face two regulatory reviews when adopting new trade names for their drug products in the United States, at the United States Food and Drug Administration (“FDA”) and the United States Trademark Office (“USTO”). Both of these agencies review trade names to reduce or eliminate any confusion that the name might cause. However, because the agencies are trying to protect different classes of people from confusion, their review standards and procedures often differ. FDA is trying to prevent healthcare professionals from giving the wrong medicine to a patient, while the USTO is trying to prevent companies from adopting names that confuse consumers regarding the source of the labeled goods.
Corruption and Bribery Concerns Affecting Japanese Pharmaceutical Companies Operating in the United States
Recent criminal enforcement actions against Japanese companies and executives have made very clear that no company or employee is safe from charges of bribery and corruption. Japanese pharmaceutical companies that operate in the United States must be aware of anti-corruption laws in both the United States and Japan. These laws can be used to prosecute misconduct occurring in Japan, the United States, and even other countries—highlighting the need for companies to ensure that they have robust compliance policies and programs in place around the globe.
“Health care delivery for the aging population, already a problem, will become an even greater concern in the future,” said Yuji Matsue, Senior Vice President, Eisai Company Ltd., and Chairman & CEO, Eisai Inc., at the 25th Annual General Assembly of New York Pharma Forum. “By 2050 the age 85 and older population will increase by 350 percent. The number with Alzheimer’s Disease (AD) is also projected to increase more than three-fold.” AD is the most expensive health condition in the United States, he added, now costing society $214 billion a year and projected to cost $1.2 trillion by 2050. The program took place on December 5th at the New York Athletic Club in New York City and featured four other speakers in addition to Mr. Matsue, the panel facilitator:
I don’t have to tell the readers of this blog that a lot of very significant changes have occurred in both the Japanese drug industry and Big Pharma companies over the last 25 years, since the founding of New York Pharma Forum (NYPF). Not surprisingly, these changes have had an effect on the organization.
Many Japanese drug industry executives were adamant 25 years ago that mergers were a Western phenomenon and would not affect the Japanese industry. “It is not the Japanese way of doing business,” we heard. I recall a meeting of New York Pharma Forum in the early ‘90s at which the guest speaker was a Ministry of Health & Welfare official from Tokyo, who told the audience not to expect the government to protect Japanese pharma companies any longer from global competition in the domestic Japanese market. He predicted that, in order to survive, there would be many mergers in the Japanese pharma industry, which, he said, was sorely in need of consolidation. A blanket of silence descended on the room.
Twenty-five years ago I participated in an intense series of meetings in New York with a group of Japanese pharmaceutical executives and one Japanese government official. We were planning the launch of a new industry organization, which we named New York Pharma Forum.