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United Kingdom Pharmaceuticals and Healthcare Report Q4 2009
Business Monitor International, Oct 2009, Pages: 97
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 BMI’s Business Environment Ratings (BER) for Q409, the UK improved its position by one place, and is now ranked 5th of the 9 Western European markets surveyed. However, while the UK is one of the most developed pharmaceutical markets in the world, pressing economic and political issues as well as its strict pricing and reimbursement regimes and the upcoming patent cliff – are conspiring to reduce the market’s rate of development in the coming years. In the 2008-2013 period, we forecast a compound annual growth rate (CAGR) of just 0.49 % in local currency terms, with the market value at consumer prices growing from GPB18.8bn (US$34.9bn) to GPB19.3bn (US$32.7bn).
However, although the generics segment is forecast to account for as much as one-third of the market by value in 2013, foreign companies continue to invest in the UK’s pharmaceutical research and development (R&D). In July 2009, Belgian UCB Pharma inaugurated its new GBP25mn (US$37mn) biologics research facility in the UK, which will specialise in the development of therapeutic antibodies. Over the course of 2008, the company ploughed some GBP200mn (US$370mn) into local R&D, confirming its status as the fourth-largest pharmaceutical industry investor in the country. Similarly, Spanish company Almirall Prodesfarma opened a new headquarters in the UK which will serve both the British and Irish markets.
Around the same time, the Office for Life Sciences (OLS) – focused on the improvement of operating environment for the pharmaceutical industry – was working on a proposal that aims to allow innovative drugmakers to bypass the National Institute of Clinical Excellence (NICE) via a fast-track procedure. The products would be sold to the National Health Service (NHS) at a higher price, with NICE appraising their cost-effectiveness after a period of three years. The Association of the British Pharmaceutical Industry (ABPI) has estimated that new medicines – defined as those launched in the last five years account for a lower proportion of the UK’s total pharmaceutical market than in other developed countries. An additional issue is that of recommendations made by NICE – the medicine advisory agency – not being legally binding, but having a strong influence on the reimbursement environment in the UK.
In the meantime, in a bid to tackle the growing care problem as the population ages, the British government proposed a reform of the social care funding system in England. One of the three options laid out by the government is the creation of a compulsory national insurance scheme that would provide care for all elderly citizens. The other options include a partnership approach whereby all citizens would be entitled to a percentage of their costs being paid by the state. The poorest people would qualify for free care and the less well-off would qualify for more government help. However, some people with high care costs would have to raise their own funds via their savings or the sale of their assets. The additional costs could be covered by private insurance, or a voluntary state-backed insurance scheme.
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