Nycomed CEO: drug sector consolidation to continue

Nycomed, which earlier this month bought a majority stake in Chinese pharmaceutical company Guangdong Techpool Bio-Pharma Co. Ltd., will continue to invest funds in Asia and seek acquisitions there. It is also eyeing similar-sized acquisitions in other emerging markets. Pharma companies in general are working hard to defuse the R&D crisis through mergers and acquisitions, geographic expansion and diversification into new areas like consumer health. The cost of bringing a new drug to market currently runs at more than $2 billion, according to analysts at Bain & Company.