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Netherlands Pharmaceuticals and Healthcare Report Q2 2008
Business Monitor International, May 2008, Pages: 70
The Netherlands Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Netherlands pharmaceuticals and healthcare industry.
Growth will be far from impressive for the drug market in the Netherlands over the forecast period, although, in many ways this reflects the general sluggishness seen in mature markets. BMI expects the market to reach a value of US$7.06bn in 2012, representing a compound annual growth rate (CAGR) of
2.08%. Growth will be strongest in the generics market but should also be reasonable for consumer health products as these medicines benefit from government liberalisation policies.
The generics sector, however, will be negatively impacted by the new transition agreement regarding pharmaceutical prices that has come into effect. In January 2008, the price of generic medicines was reduced by 10%. BMI has factored this decrease into our forecasts and believes that the generics market will reach a value of US$1.28bn by 2012. In addition, medicines whose patents expire in 2008 will see price cuts of 50%. The Dutch Pharmacy Association, KNMP, claims that the plans are designed to keep the cost of medicines down. Also, they are designed to help transform the pharmaceutical market from being supply-based to being demand-based.
In terms of company activity, the sector has been quiet after last year saw US drug-maker Schering-Plough acquire Organon, the pharmaceuticals division of Dutch industrial conglomerate Akzo Nobel for EUR11bn (US$14.5bn). However, in February 2008, a Dutch court ruled against US drug-maker Pfizer in a court case regarding the patent on atorvastatin, the key ingredient in cholesterol reducing drug Lipitor is invalid. This is a severe blow for Pfizer, as it could open the door for generic competition for its bestselling drug.
Meanwhile, recent attacks by animal extremists in the Netherlands have forced a local company to pull out of a life sciences project. BMI believes that the latest problems in the Netherlands, if sustained, will have a negative impact on the countrys Business Environment Rating. The Netherlands has a respected regulatory system, with an average score of eight across our three main indicators, but we will downgrade the scores if intimidation of the research sector is permitted to continue.
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