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Switzerland Pharmaceuticals and Healthcare Report Q1 2011
Business Monitor International, Dec 2010, Pages: 82
The Switzerland Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Switzerland's pharmaceuticals and healthcare industry.
In BMI's Q111 Pharmaceuticals & Healthcare Business Environment Ratings (BERs), the Western Europe region scored a total of 64.4 out of 100. Switzerland was ranked first of the 10 countries in the region with a composite score of 73.0. In terms of disease burden, Switzerland ranks among the healthiest countries in Western Europe, supporting a recent OECD report and suggests that Switzerland’s high levels of healthcare expenditure, along with relatively healthy lifestyles, are keeping the disease burden low. However, BMI anticipates that Switzerland may fall down the world rankings in the medium to long term as Western Europe’s attractiveness compared with large, high-growth emerging markets – such as Brazil and China – declines. The attractiveness of Western Europe over the next decade is forecast to decline as governments are forced to implement austerity measures to reduce fiscal deficits, with healthcare expenditure likely to be reduced.
Price cuts were implemented in Switzerland in January 2010, with the aim at creating savings of approximately CHF800mn (US$721mn). These cuts include changes in wholesale margins, reference pricing and realigning the prices of generic medicines. Wholesale margins applied to drug prices have been reduced by 3% for those costing CHF800 (US$721) or more, while the maximum margin has been lowered from 15% to 12%. For medicines that cost CHF800 (US$721) or less, the maximum margin has been lowered to 7%, (from 10%). The basket of countries used to reference drug prices has expanded to include Austria and France, in addition to Germany, Denmark, the UK and the Netherlands. Generic medicines will be priced at 50, 60 or 80% of the price of the originator medicine. The pricing differentials, in particular the 50% section, have been implemented to encourage the use of generic medicines over higher-priced originator drugs.
Switzerland has a long tradition of drug development and accounts for around 5% of global pharmaceutical research and development (R&D). The country’s R&D success is partly due to its well established pharmaceuticals industry and the high concentration of technology-based firms, and partly to the more recent emergence of the strong biotechnology sector. The pharmaceutical research sector is characterised by a large number of cooperative deals, with both local and foreign players.
The local industry is dominated by multinationals Novartis and Roche, which collectively account for 60% of domestic production and demonstrate the country’s traditional strengths in innovative pharmaceutical development. The country’s chemical and pharmaceutical industry contributes about a third of the funds spent annually on research in Switzerland. Since the turn of the century, the Swiss pharmaceutical and chemical industry has consolidated its position in international markets with foreign direct investment (FDI) in more than 80 countries.
The Q3 2010 financial results reported by Novartis and Roche highlight the increasing importance of emerging markets to multinational pharmaceutical companies. Novartis has reported that while pharmaceutical sales growth grew by 5%, sales in Europe dropped by 2% and sales in the US increased by 6%. However, sales in Asia/Africa/Australasia increased 9% and sales in Canada and Latin America were up 18%. Roche reported that sales in the US, Western Europe and Japan contracted due to currency effects and austerity measures, whereas strong demand in Brazil, China, India, Mexico, Russia, South Korea and Turkey drove international markets sales growth up to 11%.
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