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Jordan Pharmaceuticals and Healthcare Report Q1 2010
Business Monitor International, Dec 2009, Pages: 73
The Jordan 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 Jordan's pharmaceuticals and healthcare industry.
This report forecasts that the value of the Jordanian drug market will increase from around JOD263mn (US$370mn) in 2008 to JOD379mn (US$533mn) by 2014. This represents a compound annual growth rate (CAGR) of 6.38% in both US dollar and local currency terms.
The Jordanian Association of Pharmaceutical Manufacturers and Medical Appliances (JAPM) recently announced that domestic drug producers export 75% of their products. While this is a strength in many regards, it also demonstrates a key weakness of the domestic pharmaceutical industry, as the perception among patients in Jordan is that foreign-derived medicines are of superior quality. The JAPM is launching a campaign to reverse this trend, focussing on the capital, Amman, Irbid and Zarqa, which should help local companies better exploit their home market. The JAPM is also working closely with the US Agency for International Development (USAID) to make the Jordanian pharmaceutical industry more internationally competitive.
A significant step forward in boosting exports to Syria was the formation of a technical committee in September 2009, with the sole aim of removing unnecessary paperwork and optimising current pharmaceutical trade practices. To date, pharmaceutical trade between Syria and Jordan has been restricted by shared drug registration barriers. It is claimed that the sale of Jordanian pharmaceuticals in Syria have been weaker than expected due to the lengthy registration process in Syria. It can take up to a year to register a new medicine and there is a policy of not importing a Jordanian medicine if there is an alternative product already on the Syrian market. This is particularly detrimental to Jordanian exports since the country’s largest manufacturer, Hikma Pharmaceuticals, specialises in producing affordable generics. The UN Commodity Trade Statistics Database (UN Comtrade) says that in 2008, exports from Jordan to Syria reached US$4.2mn, while exports from Syria to Jordan reached only US$163,000. Hikma is reported to be exploring possible partnerships with Western drugmakers in the Middle East. No names or deals have been announced; however, it is thought to be likely that there will be a rise in licensing deals through Hikma next year.
The weak domestic demand for products from local companies has not been helped by the government dispute with the Jordan Pharmacists Association (JPhA) regarding sales tax on pharmaceuticals. There are around 1,800 pharmacies in Jordan of which around 600 have an annual turnover of more than JOD75,000 (US$105,000), and these are subject to the 4% sales tax on medicines. While the tax is meant to encourage pharmacies to keep the prices lower in order to avoid the annual taxation limit, it also discriminates against larger stores and those patients who can only access such outlets. The JPhA opposes the sales tax, which has been in place since 2002, and proposed closing all pharmacies for four hours on July 19 2009, marking a move to more drastic action. The JPhA did not propose strike action earlier due to internal differences within the organisation; however, it now seems likely that an agreement will be reached, with the government having proposed that the sales tax is imposed on suppliers and pharmaceutical companies rather than directly on pharmacies.
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