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France Pharmaceuticals and Healthcare Report Q2 2010
Business Monitor International, March 2010, Pages: 83
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.
Despite a compound annual growth rate (CAGR) of 1.26% in local currency terms and 3.71% in US dollar terms from 2004-2009, BMI’s outlook for the French drug market is less optimistic over the next five years. From 2009-2014, a CAGR of -1.41% is projected in local currency terms (-3.50% in US dollar terms), largely as a result of the impending patent cliff and the consequent consumption of lower-value generic drugs in place of the high-value patented drugs. the report calculates that drug sales in France reached EUR30.25bn (US$42.61bn) in 2009. It is expected that 2010 drug sales will reach EUR30.49bn (US$42.94bn), before declining to EUR29.89bn (US$40.95bn) in 2011 as medicines start to lose intellectual property protection. By 2014, pharmaceutical expenditure in France is expected to reach a value of EUR28.17bn (US$35.66bn).
We highlight that the loss of market value in the patented drugs sector will not translate into an equivalent gain in value for the generic drugs market, simply as a result of the much lower cost of generic medicines. In 2009, accounting for 72% of the total drug market, patented drug sales reached EUR21.78bn (US$30.67bn), but by 2014 the sale of high-value originator drugs is expected to decline to EUR18.50bn (US$23.42bn) – illustrating the effect of the patent expires. Accounting for 7.6% of the total drug market, generic drug sales reached a value of EUR2.29bn (US$3.22bn) in 2009 and by 2014, sales are expected to increase to EUR3.00bn (US3.80bn), forming 10.7% of the total drug market. In March 2010, a new industry association, the Alliance for Research and Innovation (ARIIS), was set up in France to create a more competitive pharmaceutical industry. The main aims of the alliance are to unite the diverse industry players, pharmaceutical, medical device and diagnostic companies (small and medium-sized enterprises (SMEs), multinational companies and biotech firms), with France’s top academic research institutions, thereby encouraging public private-private partnerships.
The analyst believes the formation of an association that encourages communication and collaborations within the industry will work towards strengthening France’s position as a research and development (R&D) hotspot. France scores well in our Q210 Pharmaceuticals and Healthcare Business Environment Ratings and we believe that such developments will work towards maintaining its high ranking.
Meanwhile in companies’ news, Sanofi-Aventis reported a 6.3% rise in net sales in 2009 to US$40.31bn, up from US$37.92bn in the previous year.
Although a positive result given the economic downturn and the effects of generic competition on its blockbuster drug Plavix (clopidogrel), a significant proportion of the 6.3% rise in turnover is due to changes in structure (primarily the consolidation of Zentiva and Medley in Q209) and exchange rate movements. Taking this into account, net growth in 2009 sales amounted to 4.0%.
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