Japan seeking more Australian biotech companies

Australian biotech companies are developing a reputation for quality and innovation in Japan — the second largest biotechnology market in the world. With the Japanese biotechnology market and related industries expected to grow to $260 billion by 2010, The Australian Trade Commission (Austrade) is seeking more businesses to take advantage of Australia’s standing with its largest trading partner.

According to Austrade’s Tokyo-based business development manager for biotechnology, Airi Sakaguchi, Australian biotech businesses have developed a strong reputation amongst Japanese businesses, opening up more opportunities for Australian businesses.

“Japanese companies are increasingly putting Australia at the top of the list when looking abroad for biotechnology partners and services. Australians are developing a reputation for quality, reliability and innovation,” Sakaguchi said.

Austrade’s national manager of Health, Biotechnology and Wellbeing, Janelle Casey, said, “Traditionally, Australian businesses have looked to the US and Europe for alliances, but Japan should not be overlooked.”

“The top four Japanese pharmaceutical companies are cashed up and looking for partnership opportunities overseas, particularly in relation to technology and licensing agreements.

“There’s also steady growth in bioventure start-ups in Japan, opening up further opportunities for Australian businesses.”

Japanese company Wako Pure Chemical Industries, which has alliances with several Australian businesses, is a firm believer in Australia’s reliability and quality. Wako’s manager business development, Bio Medical Systems, Toshi Somehara said, in particular, Australia had a strong reputation for delivering results.

“In the case of clinical trials, we have alliances with several Australian medical providers, including St Vincent’s Hospital and Prince of Wales Hospital in Sydney,” Somehara said.

“Australia has world-class clinical trial infrastructure and trials held in Australia are delivered on time and at a lower cost compared with the UK and the US.”

Sakaguchi said Australian companies looking for alliances in Japan would yield success if they were committed.

“It takes a lot of commitment and investment from Australian businesses to achieve success in the Japanese market, but the returns are high. The general rule is when you show commitment, success levels are high,” Sakaguchi said.

“And Australia’s growing reputation is even more reason to explore opportunities in Japan.”

For further information, visit Austrade.