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United Kingdom Pharmaceuticals and Healthcare Report Q3 2009
Business Monitor International, July 2009, Pages: 99
The United Kingdom Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the United Kingdom's pharmaceuticals and healthcare industry.
In 2008, the UK’s drug expenditure reached a value of GPB18.7bn (US$36.8bn) and by 2013, it is expected the drug market will be worth GBP19.3bn (US$32.7bn), equating to a 0.58% compound annual growth rate (CAGR). The author forecasts a decline in the growth of the country’s drug market as a result of the upcoming patent cliff, a period – starting in 2009, peaking in 2011, and continuing through to 2013 – when almost all the leading blockbuster drugs will lose patent protection. This will result in a massive decline in sales for some of the world’s largest drugmakers.
In the Business Environment Rankings for 2009, the UK is placed in 6th position, out of the 9 Western European Markets surveyed in Q309. Globally, the UK is ranked in 12th position, just behind the Netherlands.
Data released by the Association of British Insurers in April 2009 reveals that despite tough economic conditions, there has been an increase in the number of people covered by corporate or personal medical insurance. According to the figures, a total of 6.2mn people were covered by private medical insurance (PMI) in 2008, compared with 6mn in 2007. Additionally, a further 1mn people were covered through Healthcare Trust arrangements in 2008. Fears about superbugs such as MRSA, general hospital cleanliness and long waiting lists are factors that push towards the purchase of PMI.
According to a report published by the Royal College of Physicians, the UK is losing its leadership edge in the competitive market for conducting clinical trials. In the global ranking for effectiveness of clinical trials, the UK is ranked in 6th place after the US, China, India, Russia and Brazil. In response to the UK’s decline as a top destination for clinical trials, the Department of Health, in collaboration with the Association of the British Pharmaceutical Industry, has developed a model trial agreement to facilitate the initiation of trials within the country’s National Health Service.
The author’s view that the UK biotechnology industry would not receive funding from the government has been proved correct. In early May 2009, the UK government rejected the industry’s call for financial support and tax incentives to promote research and development. The requests for funding formed part of a report on the sector, ‘Review and Refresh of Bioscience 2015’, produced in early 2009, by the Bioindustry Association (BIA), a life sciences lobby group. Mid-sized to small specialty pharmaceutical companies are experiencing a drastic shortage in funding. The international financial crisis means there is a low appetite for risk and less likelihood of investment in development stage companies, which include most biotechnology firms.
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