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Canada Pharmaceuticals and Healthcare Report Q1 2009
Business Monitor International, Jan 2009, Pages: 79
This Canada Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Canada's pharmaceuticals and healthcare industry.
Growth is slowing in the Canadian pharmaceutical market as the government looks to cut back on drug spending. Once one of the fastest growing markets in the world, BMI now forecasts that pharmaceutical expenditure will grow at under 3% per year in nominal terms up to 2013. One factor suppressing growth is the long approval times for innovative new drugs in Canada. As a result, the country has one of the worst records regarding access to new drugs out of the major industrialised countries.
Provincial government health expenditure growth in Canada remains unsustainable according to a new report by independent research and education organisation, the Fraser Institute. Taking 10 years of historic data, the report finds that government health expenditure has grown at an average rate of 7.7% a year. This is higher than both provincial revenue (+6.3% a year) and provincial GDP growth (+6.1% a year) over the same period.
Meanwhile, in company news, the biggest event in the quarter was French drugmaker Sanofi-Aventis winning the Canadian high court case to uphold the '777 patent for the blockbuster blood-thinner Plavix (copidogrel bisulfate). As a result, indigenous generics firm Apotex, which made a concerted assault on the patent, will be forced to wait until 2012 to market its version. The ruling marks a significant recognition that selection patents are still valid and must be respected by generic companies. The blow to
Apotex highlights the major pitfalls from focusing on producing high-profit generics to market first.
Elsewhere, in a move which should be a boost for innovation in Canada's medical device industry, the University of Calgary has announced that it will establish Canada's first biomedical engineering hub. The National Biomedical Engineering Innovation Centre will be funded from a range of sources including the University, provincial and national government and the private sector. The centre is to focus on the development and commercialisation of therapies in the area of bone and joint health, cardio-respiratory health, the brain, medical devices, enhanced imaging technologies and robotics. Such investment should boost innovation in Canada, and could help the country regain second place in BMI’s Business Environment Ranking. Canada was pushed into third place by Puerto Rico in Q408, a position it retains in the current quarter.
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