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Australia Pharmaceuticals and Healthcare Report Q2 2009
Business Monitor International, April 2009, Pages: 110
Australia Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Australia's pharmaceuticals and healthcare industry.
In BMI’s Q209 Pharmaceutical Business Environment Rating matrix for the 15 key countries in Asia Pacific, Australia is considered the third-most attractive pharmaceutical market. The pharmaceutical market is highly advanced but the geographical size of the country (which makes distribution difficult) and its restrictive pricing and reimbursement environment will be among the factors conspiring to keep its compound annual growth rate (CAGR) to a low level of 2.71% in local currency terms through to 2013. Having been valued at around US$7bn in 2008, the market is expected to dip in the 2009-2012 period, before reaching US$7.5bn in 2013. BMI Country Risk team is forecasting a 1.4% contraction of Australia’s 2009 real GDP, as the country contends with the ongoing slump in commodity price, marked slowdowns in private consumption, cooling investment and softening demand from key export markets.
The domestic pharmaceutical industry – which includes a large number of multinationals with direct manufacturing presence – is dominated by the producers of generic medicines. Those companies have benefited from regulations that allow ‘springboarding’ during the term of Australian patents, but have been hampered by the fact that research and development (R&D) extends only to the registration of generics, rather than their manufacture for exports. Consequently, in February 2009, a number of domestic players – including members of the Generic Medicines Industry Association (GMiA) – wrote to the Joint Trade-Subcommittee/Manufacturing for Export, urging the government to improve export conditions for Australian generics.
In the meantime, Aurobindo Pharma Australia, a wholly owned subsidiary of Indian pharmaceutical company Aurobindo Pharma, received approval from Australia's regulatory body for the registration of its heart medicine lisinopril tablets in three strengths. Australian Alchemia reported that an Abbreviated New Drug Application (ANDA) for its fondaparinux sodium was submitted to the US Food and Drug Administration (FDA). Alchemia and its partner Dr Reddy’s Laboratories remain confident of commercial success, as no other generic fondaparinux molecules have been made by competitors to date. In other company news, Swiss Intercell AG announced that its vaccine for the prevention of Japanese Encephalitis (JE) was approved by the Australian authorities, with its launch imminent. The Jespect vaccine will be marketed by Australian CSL Biotherapies, with the two companies expecting US$13mn and US$21mn in 2009 and 2010 sales in the country, respectively.
In other developments, the public healthcare scheme Medicare is due to create a national AUD51.6mn (US$30mn) individual healthcare identifiers system, in partnership with the National E-Health Transition Authority (NEHTA). The Australian Medical Association (AMA) welcomed the development, which is aiming to improve efficiency and ensure that correct information is passed between private practice and hospitals. The database could also be used to monitor prescribing patterns, with recent studies showing that general practitioners (GPs) are already issuing fewer scripts than a decade ago.
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