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Israel Pharmaceuticals and Healthcare Report Q3 2009
Business Monitor International, June 2009, Pages: 92
Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulartory bodies with independent forecasts and competitive intelligence on Israel's pharmaceutical and healthcare industry
In BMI’s updated Business Environment Rankings (BER) for Q309, Israel continued slipping down the table, now ranking seventh out of the 17 Middle East and African (MEA) markets surveyed. While the country scores strongly across the country structure and the country risk categories, a risky regulatory environment, particularly in regard to intellectual provisions (IP) provisions, serves to limit Israel’s overall attractiveness for multinational drugmakers. Moreover, although Israel’s IP environment has been criticised for deteriorating in the past decade, the country seems to have no plans to improve the situation, which will continue to weigh down on Israel’s placement within BMI’s MEA matrix.
In the meantime, Israel once again featured in the ‘Priority Watch List’ of countries with deficient IP regimes, which is produced as part of the 2009 version of the Special 301 Submission by the Pharmaceutical Research and Manufacturers of America (PhRMA). Key points of contention include the lack of adequate patent and data exclusivity protection and regulatory approval delays. While the latter has been addressed to a degree, insufficient budgetary support remains a major obstacle to establishing a better system for processing marketing applications, which will continue to be biased against foreignmade patented drugs.
In addition to the IP issues that stifle the development of the innovative patented market segment, the economic situation (such as the forecast 1.8% GDP contraction in 2009) and political environment will conspire to result in a slow growth of the Israeli pharmaceutical market over the next five years. From the 2008 market value of ISL5.46bn (US$1.53bn) at retail prices, the market will grow to just ILS5.98bn (US$1.57bn) in 2013, posting a compound annual growth rate (CAGR) of just 1.83% in local currency terms (and of just 0.62% in US dollar terms). Per capita spending on drugs will, however, stagnate at around US$207 estimated in 2008, as cost-containment negates any volume increases. An increasing reliance on imports of non-patented medicines will also subdue growth as the government seeks to cut healthcare costs. While prescription medicines will continue to account for the majority of the market by value, economic recovery will once again boost the uptake of OTCs, especially in the face of a restrictive pricing and reimbursement environment.
In the meantime, Israeli healthcare coverage continues to be criticised by international bodies. In March 2009, the Physicians for Human Rights (PHR) group called for amendments to the state policy prohibiting children who are not currently under permanent residential status access to healthcare. Despite the fact that Israeli legislation stipulates a basic healthcare package for foreign workers, children continue to be excluded from the system due to inconsistent and unrealistic criteria that need to be met in order to qualify for the health coverage. Disallowing coverage to those with a Palestinian parent also highlights a degree of prevailing intolerance with no sound basis, which will continue to draw international criticism and influence Israel’s attractiveness as a business destination.
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