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Despite a century of advances in modern medicine, as well as the
rapid development of Covid vaccines, the global pharmaceutical
industry has largely failed to bring to market drugs that actually
cure disease. Why? And looking further ... How can government
policies stimulate investment in the development of curative drugs?
Is there an untapped potential for "natural medicines" in new drug
discovery? How have private-public sector partnerships transformed
the ways we innovate? To what extent are medicinal plant
biodiversity and human health codependent? Addressing this range of
increasingly critical questions, Kathryn Ibata-Arens analyzes the
rise and decline of the global innovation system for new drug
development and proposes a policy framework for fast-tracking the
implementation of new discoveries and preparing for future
pandemics.
The biomedical industry, which includes biopharmaceuticals,
genomics and stem cell therapies, and medical devices, is among the
fastest growing worldwide. While it has been an economic
development target of many national governments, Asia is currently
on track to reach the epicenter of this growth. What accounts for
the rapid and sustained economic growth of biomedicals in Asia? To
answer this question, Kathryn Ibata-Arens integrates global and
national data with original fieldwork to present a conceptual
framework that considers how national governments have managed key
factors, like innovative capacity, government policy, and
firm-level strategies. Taking China, India, Japan, and Singapore in
turn, she compares each country's underlying competitive
advantages. What emerges is an argument that countries pursuing
networked technonationalism (NTN) effectively upgrade their
capacity for innovation and encourage entrepreneurial activity in
targeted industries. In contrast to countries that engage in
classic technonationalism-like Japan's developmental state
approach-networked technonationalists are global minded to outside
markets, while remaining nationalistic within the domestic economy.
By bringing together aggregate data at the global and national
level with original fieldwork and drawing on rich cases,
Ibata-Arens telegraphs implications for innovation policy and
entrepreneurship strategy in Asia-and beyond.
Despite a century of advances in modern medicine, as well as the
rapid development of Covid vaccines, the global pharmaceutical
industry has largely failed to bring to market drugs that actually
cure disease. Why? And looking further... How can government
policies stimulate investment in the development of curative drugs?
Is there an untapped potential for "natural medicines" in new drug
discovery? How have private-public sector partnerships transformed
the ways we innovate? To what extent are medicinal plant
biodiversity and human health codependent? Addressing this range of
increasingly critical questions, Kathryn Ibata-Arens analyses the
rise and decline of the global innovation system for new drug
development and proposes a policy framework for fast-tracking the
implementation of new discoveries and preparing for future
pandemics.
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