This book explores why Japan, despite being a world leader in many
high technology industries such as automobiles and consumer
electronics, is only a minor player in the global pharmaceutical
industry. Japan provides a huge market for pharmaceuticals as the
second largest consumer of prescription drugs after the United
States, and is a massive importer of prescription drugs, relying on
discoveries made elsewhere. This book charts the development of the
industry, from the devastation resulting from the Second World War
to its performance in the present day. Focusing in particular on
antibiotics and anticancer drugs, the book analyses factors that
have prevented Japan from leading the rapid advances in science and
technology that have occurred globally over recent decades. Looking
at the pharmaceutical industry, the book argues that the Japanese
government's research and development policies were not
sufficiently incentivising. It also shows how the nature of
capitalism in Japan - which featured close relations between
government and industry as well as between and within firms - was
appropriate for nurturing industrial development in the immediate
post-war decades, but became much less effective in later years.
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