Pharmaceutical Executive Digest Europe - January 21, 2009 - (Page 1) Wednesday 21 January 2009 Multinationals failing emerging market executives Companies with offices in Latin America and Asia-Pacific are failing to recognise the needs of local senior level talent, a survey from Sharpstream Life Sciences reveals. In both regions, salary expectations have soared as the demand for talent outstrips supply. Executives are now expecting a salary increase of around 20% simply to move to a position of similar seniority at another company. Both regions’ executives are also keen to seek high profile positions and the opportunity to learn and develop. These factors, however, are not adequately recognised at corporate headquarters, the survey points out. Corporate HQs attach weight to a company’s reputation as an attraction to talent — but the survey suggests that a good reputation is of little value in attracting talent in either region. The talent shortage is an issue in both regions, but is more pressing in Asia-Pacific. There are also several underlying differences with regard to career expectations and motivations, the most notable being the importance of the profile, within the company, of the potential recruit’s direct manager. But while this is highly important to executives in Asia-Pacific, it is relatively insignificant in Latin America. Either way, it is an issue underestimated by corporate headquarters, the survey says. To participate fully in the emerging markets’ extraordinary growth, the survey says, multinationals need to improve the recruitment and retention of highperforming executives. At present, such executives are highly mobile; according to the survey, over 30% look set to switch jobs sometime in the next two years, with just 20% ruling out such a move. To download a pdf of the Sharpstream Emerging Market Talent Survey 2008, visit www.sharpstream.com/index.php/press_ downloads/ Sinclair makes £3 million from US rights sale The US distribution rights to Atopiclair cream and lotion have been sold by UK business Sinclair Pharma to its American marketing partner, Graceway. The deal realised $3.1 million for Sinclair in lieu of royalties it would have received over the next five years. Commenting on the deal, Sinclair Pharma’s CEO, Michael Flynn, confirmed that the current economic climate forced the sale: “Recognising the current market and economic environment prevalent in the US, we believe this agreement enables us to optimise the value in one of our ten leading products and provides us with a single cash payment. We believe we can make better use of the additional funds to grow the core business.” The sale also means that Sinclair is free to search for new partners for its dermatology products in North America. 3 NEWS Pharma’s next ten years 4 FROM THE EDITOR Obama and Pharma! 5 DEALS The top 15 pharma deals of 2008 8 HEALTH IT Obama and Biopharma! 11 BioFutures Forging a true industry– academia partnership 13 CALENDAR Next month’s pharma events The top 15 pharma deals of 2008 kutay tanir/Getty Images What were the priciest deals, the most hostile takeovers and the canniest investments of 2008? Pharm Exec Europe takes a look at the top 15 pharma deals of last year and asks how Big Pharma is deploying its biggest asset: cold, hard cash. Turn to page 5 http://www.sharpstream.com http://www.sharpstream.com/index.php/press_downloads/
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