Abstract
In the 1990s, the Japanese pharmaceutical industry faced a crisis caused by the government’s decision to open the domestic market toforeign competition.1 Prior to the 1990s, Japan’s pharmaceutical firms had been sheltered by protectionist policies. In certain industries, such as automobile or consumer electronics, Japan had managed to develop competitive advantages over its American or European rivals. However, Japan was a second-tier player in the global pharmaceutical industry. Japan’s leading pharmaceutical firms were less R&D-oriented, launched few global blockbuster drugs, and recorded fewer sales (Table 10.1) compared to leading global firms in the United States, the United Kingdom, or Switzerland. Japan was a net importer of pharmaceuticals and largely remained a peripheral player in the global pharmaceutical industry.
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