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South Africa Pharmaceuticals and Healthcare Report Q3 2010
Business Monitor International, July 2010, Pages: 101
Business Monitor International's South Africa 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 South Africa's pharmaceuticals and healthcare industry.
BMI’s Business Environment Ratings for the Middle East and Africa (MEA) pharmaceutical market underlines some of our key views for how the sector is performing in emerging markets. In particular we highlight Saudi Arabia, Egypt and Ghana as the most positive and promising, while the UAE and South Africa will continue as the main investment focuses. Ghana, newly added to our ratings, has entered at a respectable regional ranking of 15th out of 19. In MEA terms this is quite low, but in terms of our Sub- Saharan African market coverage only South Africa has a higher score, of 53.5 compared with Ghana’s 39.1. Since South Africa benefits from a longer history of established health and social infrastructure and forms a base for most multinational drugmakers looking for an entrance point to Africa, its higher score is to be expected.
In June 2010, South Africa’s Minister of Trade and Industry Rob Davies said the government welcomed Indian pharmaceutical companies establishing manufacturing units in the country. The invitation comes as part of the government’s national industrial policy framework (NIPF), under which it offers a suite of incentives for various sectors, including the pharmaceutical sector. Davies said the pharmaceutical industry, which possesses an unexplored potential for development, would receive specific attention from the government.
Highlighting companies’ interest in the South African generic medicines market, Indian drugmaker Ranbaxy Laboratories launched a generic form of Pfizer’s blockbuster Lipitor (atorvastatin) in the country in June 2010, following the launch of the generic medicine in Canada in May. BMI believes the launch of the off-patent cholesterol drug in South Africa will provide Ranbaxy with significant revenue earning opportunities – atorvastatin has a market size of US$26.1mn and is the second most sold drug in South Africa after AstraZeneca’s Nexium (esomeprazole). The Indian drugmaker’s version of Lipitor, called Lipogen, will compete with the branded drug, which has a 33.2% share of the atorvastatin market in South Africa, and an authorised generic, Aspavor, which is sold by the Pfizer unit Pharmacia. In May 2010, the South African government became the first to join the Pool for Open Innovation against Neglected Tropical Diseases, a programme with its initial focus on improving and developing new treatments against tuberculosis and malaria. The South African Technology Innovation Agency (TIA) stands to gain from knowledge transfer and access to patents, particularly in the biotechnology sector, which is still in the early stages of development. As the most developed Sub-Saharan African market, in terms of regulatory standards, market size and value, South Africa’s entry into the patent pool should boost its attractiveness to multinational drugmakers looking at the country as a potential base for continental operations. Moreover, the South African drug market is expected to reach US$4.1bn by 2014, with prescription drugs accounting for 86%. Patented medicines will make up 58.5% of the total pharmaceutical market and still dominate in terms of value sales, even if generic drugs generate higher volume sales.
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