By Arun Sudhaman
HONG KONG: Healthcare firm Tonic Life Communications has launched its Asian presence via a new office in Hong Kong, helmed by former Ogilvy regional healthcare chief Joanne Basford.
Tonic Life, which was bought last year by Huntsworth Health, is also expecting to open offices in Shanghai and Singapore within the next six months. The firm becomes one of the first specialty healthcare firms to launch in Asia, indicating the industry’s potential for growth in the region.
“The large pharma and healthcare companies are getting their annual growth from the emerging markets,” said Tonic Life global CEO Scott Clark. “As populations and goverments are able to pay for their innovative treatments, you are starting to see them put their money where their mouth is.”
Clark pointed out that, while the pharma market is growing by around two to four per cent in the US and Europe, expansion in Asia-Pacific and Latin America is in double digits.
On the consumer healthcare side, meanwhile, Clark note that issues like obesity and diabetes are becoming increasingly important in Asia. Tonic Life launches in Asia with Pfizer cholesterol drug Lipitor as its key anchor client, along with business from two other undisclosed MNCs.
Basford has been named MD of Tonic Life and
will remain based in Hong Kong, where she previously served as regional
director of Ogilvy Health.
Tonic Life is headquartered in London and Philadelphia, and also has offices in New York, San Francisco and France