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France Pharmaceuticals and Healthcare Report Q1 2010
Business Monitor International, Dec 2009, Pages: 76
The France 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 France's pharmaceuticals and healthcare industry.
The reports proprietary Drug Expenditure Forecast Model reveals that the French pharmaceutical market will increase in value in 2009 (in local currency terms), having declined the previous year. During 2008, overthe- counter (OTC) and prescription medicine sales were EUR30.00bn, down from EUR31.00bn in 2007. In 2009, it is expected that drug sales will increase by 0.83% to reach EUR30.25bn. However, in US dollar terms, as a result of the weakening of the euro, drug sales will experience a -3.43% decline from US$44.12bn in 2008 to reach US$42.61bn in 2009. This will affect the rest of the forecasts in the report. By 2014, teh report calculates that France’s pharmaceutical market will be worth EUR32.12bn (US$40.66bn), equating to a 1.21% compound annual growth rate (CAGR) in local currency terms and -0.93% growth in US dollar terms. Our extended 10-year forecast model projects that drug expenditure will reach EUR37.11bn (US$46.38bn) by 2019, representing a 2009-2019 CAGR of 2.06% in local currency terms and 0.85% in US dollar terms. As a proportion of GDP, drug expenditure is expected to decline marginally over the 10 years, from 1.58% in 2009 to 1.36% by 2019. In September 2009, in a move to further reduce the country’s healthcare budget deficit, it was revealed that the French government may cut reimbursement rates for a number of OTC drugs from 35% to 15%, as well as charging patients more for hospital stays.
France’s Budget Minister, Eric Woerth, said that the health budget experienced a EUR4.4bn (US$6.31bn) shortfall in 2008 and it that the deficit is expected to increase to EUR10bn (US$14bn) in 2009 and EUR15bn (US$22bn) in 2010, as a result of the impact of the decline in social security contributions. He claims that it costs an average of EUR35 (US$51) a day to house a patient (without taking into account medical bills) and that one option under consideration is to increase the daily hospital stay charge from EUR16 (US$21) to EUR20 (US$29). It is believed that a one euro increase in charges would generate savings of EUR80mn (EUR116mn) annually. The report believes that as with the cost-containment measures implemented in the past, the new initiatives will not be welcomed by patients or drugmakers. Furthermore, in November 2009, the French government revealed that it may implement a dual pricing system for medicines in order to prevent wholesalers from taking advantage of low prices in France, before reselling medicines in countries where prices are higher. The pricing law aims to allow drug companies to charge higher prices for medicines that are exported from France, rather than the single, lower regulated price negotiated with the authorities for use in the national healthcare system. The publisher believes this development will not be welcomed by European Union (EU) antitrust regulators who believe that systems preventing traders from exploiting price differences across Europe restrict competition within the EU.
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