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Switzerland Pharmaceuticals and Healthcare Report Q1 2009
Business Monitor International, Jan 2009, Pages: 77
This Switzerland Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Switzerland's pharmaceuticals and healthcare industry.
In BMI’s new Business Environment Rankings for Q109, Switzerland has regained pole position in the European matrix, rising from second place in the previous quarter. Globally Switzerland remains one of the best pharmaceutical markets in which to do business. Key draws to the market include a publicly funded, generous reimbursement scheme, sophisticated drug approvals process, and high per capita GDP and spending on pharmaceuticals. Additionally, its population is ageing, which translates into greater demand for innovatively drugs in particular, despite the fact that the country’s population size - as well as growth - is modest by global standards.
By 2013, the value of Switzerland’s pharmaceutical market at consumer prices is expected to reach CHF7.47bn (US$5.66bn), experiencing a cumulative annual growth rate (CAGR) of around 4% in the forecast period (in local currency terms). The growth will be stymied by the expected dip in the market value in 2009, under due to the fallout from worldwide economic crisis. The market will recover in 2010 and beyond, and although annual growth rates will remain in low single-digit figures, the overall size of the market and high per capita spend on drugs continues to be one of the key attractions.
In the meantime, Switzerland’s pharmaceutical industry association, Interpharma, is claiming that a recent report on drug prices by Swiss association of medical insurers, Santésuisse, is misleading. The Association claims that research that lead to the report took no account of price cuts actioned in March 2008, or of the different value-added tax (VAT) and wholesale and retail mark-up margins across Western Europe. Therefore, Santésuisse findings in the report that Swiss drug prices are on average 20% higher than those in neighbouring countries are inaccurate, according to Interpharma, despite the fact that association conceded that the prices of generics in Switzerland are generally higher than elsewhere in Western Europe.
In terms of company news, the last quarter has witnessed a number of new approvals and launches, including a green light from Swiss authorities for Novartis to market Rasilez HCT , a single pill combination of two high blood pressure medicines, and the October 2008 launch by Swiss Santhera of its treatment of rare congenital disorder Friedreich's ataxia, Catena. In the meantime, both Novartis and Roche published their Q308 figures, with the former receiving the beneficial effect of the weakening dollar, while the latter continuing to feel the impact of declining Tamiflu sales. Roche also reaffirmed its commitment to buy the remaining shares US biotechnology giant Genentech, which it already partially owns, despite suffering a set-back in August 2008, when its US$43.7bn offer was rejected.
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