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Switzerland Pharmaceuticals and Healthcare Report Q3 2007
Business Monitor International, Oct 2007, Pages: 77
The Switzerland Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Switzerlands pharmaceuticals and healthcare industry.
Switzerland has one of the most advanced pharmaceutical markets in Europe, characterised by a high technological standard, a world-class local manufacturing sector and a high per-capita drug spend. As revealed in the Q307 Switzerland Pharmaceuticals & Healthcare Report, the drug-spend per person stood at US$743 in 2006, and should rise to US$980 by 2011, rivalling even the US. The overall drug market is worth US$5.53bn, with prescription drugs accounting for 64% of the total market. Generic spending is low, making up under 5% of the market in 2006. However, the author believes that this market will develop over the forecast period, although it will remain minimal by regional standard.
Q307 was characterised by much company activity, with Novartis’ expanding its vaccines business after concluding a twin-deal with Austrian biotech firm Intercell. The Swiss giant will pay US$120mn (US$163mn) for Intercells IC31 flu-vaccine technology and will also increase its stake in the company to 16%, with the purchase of an additional 4.8mn shares for EUR150mn (US$204.22mn). In April 2006, Novartis acquired the 56% stake in US vaccines-maker Chiron that it did not already own.
However, in August 2007, Novartis was rocked when the Chennai High Court in India dismissed its petition declare Indias patent laws unconstitutional. Novartis has been in a high-stakes battle with the Indian Patent Office since January 2006, when the authorities denied patent protection to Gleevec (imatinib). In February 2007, the Chennai court divided the case into two parts - an appeal against the decision not to grant Gleevec a patent (referred in April to the Intellectual Property Appellate Board) and a separate case on the legality of Indias patent law.
Switzerland takes third place in the Business Environment Ranking for the Western European Region, and after improving its score in Q307, is now only marginally behind second-placed France. Switzerland’s advantages are many - a strong regulatory system, high demand for branded pharmaceuticals and excellent long-term economic and political indicators. However, the small overall size of the market and less than impressive growth remain notable hindrances.
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