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The 2011 Report on Manufacturing Pharmaceutical Preparations: World Market Segmentation by City
ICON Group International, Jan 2011, Pages: 350
Market Potential Estimation Methodology
Overview
This study covers the world outlook for manufacturing pharmaceutical preparations across more than 2000 cities. For the year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the city in question (in millions of U.S. dollars), the percent share the city is of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a city vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all of the cities of the world). This study gives, however, my estimates for the worldwide latent demand, or the P.I.E. for manufacturing pharmaceutical preparations. It also shows how the P.I.E. is divided across the world’s cities. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
What is Latent Demand and the P.I.E.?
The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand for manufacturing pharmaceutical preparations is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a city market.
Another reason why sales do not equate to latent demand is exchange rates. In this report, all figures assume the long-run efficiency of currency markets. Figures, therefore, equate values based on purchasing power parities across countries. Short-run distortions in the value of the dollar, therefore, do not figure into the estimates. Purchasing power parity estimates of country income were collected from official sources, and extrapolated using standard econometric models. The report uses the dollar as the currency of comparison, but not as a measure of transaction volume. The units used in this report are: US $ mln.
For reasons discussed later, this report does not consider the notion of “unit quantities”, only total latent revenues (i.e., a calculation of price times quantity is never made, though one is implied). The units used in this report are U.S. dollars not adjusted for inflation (i.e., the figures incorporate inflationary trends) and not adjusted for future dynamics in exchange rates (i.e., the figures reflect average exchange rates over recent history). If inflation rates or exchange rates vary in a substantial way compared to recent experience, actually sales can also exceed latent demand (when expressed in U.S. dollars, not adjusted for inflation). On the other hand, latent demand can be typically higher than actual sales as there are often distribution inefficiencies that reduce actual sales below the level of latent demand.
As mentioned earlier, this study is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. If fact, all the current products or services on the market can cease to exist in their present form (i.e., at a brand-, R&D specification, or corporate-image level) and all the players can be replaced by other firms (i.e., via exits, entries, mergers, bankruptcies, etc.), and there will still be an international latent demand for manufacturing pharmaceutical preparations at the aggregate level. Product and service offering details, and the actual identity of the players involved, while important for certain issues, are relatively unimportant for estimates of latent demand.
The Methodology
In order to estimate the latent demand for manufacturing pharmaceutical preparations on a city-by-city basis, I used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, I heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption. Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium in realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, John Meynard Keynes conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. This type of consumption function is labeled 'A' in the figure below (note the rather flat slope of the curve). In the 1940s, another macroeconomist, Simon Kuznets, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries). This type of consumption function is show as 'B' in the figure below (note the higher slope and zero-zero intercept). The average propensity to consume is constant.
Is it declining or is it constant? A number of other economists, notably Franco Modigliani and Milton Friedman, in the 1950s (and Irving Fisher earlier), explained why the two functions were different using various assumptions on intertemporal budget constraints, savings, and wealth. The shorter the time horizon, the more consumption can depend on wealth (earned in previous years) and business cycles. In the long-run, however, the propensity to consume is more constant. Similarly, in the long run, households, industries or countries with no income eventually have no consumption (wealth is depleted). While the debate surrounding beliefs about how income and consumption are related and interesting, in this study a very particular school of thought is adopted. In particular, we are considering the latent demand for manufacturing pharmaceutical preparations across some 230 countries. The smallest have fewer than 10,000 inhabitants. I assume that all of these counties fall along a 'long-run' aggregate consumption function. This long-run function applies despite some of these countries having wealth, current income dominates the latent demand for manufacturing pharmaceutical preparations. So, latent demand in the long-run has a zero intercept. However, I allow firms to have different propensities to consume (including being on consumption functions with differing slopes, which can account for differences in industrial organization, and end-user preferences).
Given this overriding philosophy, I will now describe the methodology used to create the latent demand estimates for manufacturing pharmaceutical preparations. Since ICON Group has asked me to apply this methodology to a large number of categories, the rather academic discussion below is general and can be applied to a wide variety of categories, not just manufacturing pharmaceutical preparations.
Step 1. Product Definition and Data Collection
Any study of latent demand across countries requires that some standard be established to define “efficiently served”. Having implemented various alternatives and matched these with market outcomes, I have found that the optimal approach is to assume that certain key countries or cities are more likely to be at or near efficiency than others. These are given greater weight than others in the estimation of latent demand compared to others for which no known data are available. Of the many alternatives, I have found the assumption that the world’s highest aggregate income and highest income-per-capita markets reflect the best standards for “efficiency”. High aggregate income alone is not sufficient (i.e., China has high aggregate income, but low income per capita and can not assumed to be efficient). Aggregate income can be operationalized in a number of ways, including gross domestic product (for industrial categories), or total disposable income (for household categories; population times average income per capita, or number of households times average household income per capita). Brunei, Nauru, Kuwait, and Lichtenstein are examples of countries with high income per capita, but not assumed to be efficient, given low aggregate level of income (or gross domestic product); these countries have, however, high incomes per capita but may not benefit from the efficiencies derived from economies of scale associated with large economies. Only countries with high income per capita and large aggregate income are assumed efficient. This greatly restricts the pool of countries to those in the OECD (Organization for Economic Cooperation and Development), like the United States, or the United Kingdom (which were earlier than other large OECD economies to liberalize their markets).
The selection of countries is further reduced by the fact that not all countries in the OECD report industry revenues at the category level. Countries that typically have ample data at the aggregate level that meet the efficiency criteria include the United States, the United Kingdom and in some cases France and Germany.
Latent demand is therefore estimated using data collected for relatively efficient markets from independent data sources (e.g. Euromonitor, Mintel, Thomson Financial Services, the U.S. Industrial Outlook, the World Resources Institute, the Organization for Economic Cooperation and Development, various agencies from the United Nations, industry trade associations, the International Monetary Fund, and the World Bank). Depending on original data sources used, the definition of “manufacturing pharmaceutical preparations” is established. In the case of this report, the data were reported at the aggregate level, with no further breakdown or definition. In other words, any potential product or service that might be incorporated within manufacturing pharmaceutical preparations falls under this category. Public sources rarely report data at the disaggregated level in order to protect private information from individual firms that might dominate a specific product-market. These sources will therefore aggregate across components of a category and report only the aggregate to the public. While private data are certainly available, this report only relies on public data at the aggregate level without reliance on the summation of various category components. In other words, this report does not aggregate a number of components to arrive at the “whole”. Rather, it starts with the “whole”, and estimates the whole for all cities and the world at large (without needing to know the specific parts that went into the whole in the first place).
Given this caveat, this study covers “manufacturing pharmaceutical preparations” as defined by the North American Industrial Classification system or NAICS (pronounced “nakes”). manufacturing pharmaceutical preparations The NAICS code for manufacturing pharmaceutical preparations is 325412. It is for this definition of manufacturing pharmaceutical preparations that the aggregate latent demand estimates are derived. “Manufacturing pharmaceutical preparations” is specifically defined as follows:
325412
This U.S. industry comprises establishments primarily engaged in manufacturing in-vivo diagnostic substances and pharmaceutical preparations (except biological) intended for internal and external consumption in dose forms, such as ampoules, tablets, capsules, vials, ointments, powders, solutions, and suspensions.
3254121
Pharmaceuticals, affecting neoplasms, the endocrine system, & metabolic diseases
32541210
Pharmaceutical preparations, affecting neoplasms, the endocrine system, and metabolic diseases, for human use
3254121000
Pharmaceutical preparations, affecting neoplasms, the endocrine system, and metabolic diseases, for human use
3254121011
Systemic corticoid hormone preparations
3254121016
Local and topical corticoid hormone preparations including anti~infective combinations
3254121021
Andogenic hormone preparations, except anabolic agents
3254121026
Estrogenic hormone preparations
3254121031
Insulins and antidiabetic agents
3254121036
ACTH (corticotropin)
3254121041
Oral contraceptive preparations
3254121046
Progestrogenic hormone preparations, except oral contraceptives and premenstrual tension preparations
3254121051
Sex hormone preparations, except progestogen
3254121056
Thyroid and antithyroid hormone preparations
3254121061
Anabolic agents
3254121066
Hormone preparations, nec
3254121071
Radioactive isotopes for internal use as antineoplastic agents
3254121076
Antineoplastic agents except radioactive isotopes
3254121081
Pharmaceutical preparations, affecting neoplasms, the endocrine system, and metabolic diseases, for human use, other
32541211
Pharmaceutical preparations, affecting neoplams, the endocrine system, and metabolic diseases, for human use
3254121100
Pharmaceutical preparations, affecting neoplams, the endocrine system, and metabolic diseases, for human use
3254121111
Cancer therapy products
3254121112
Insulin/anti-diabetes products
3254121113
Other neoplasms, endocrine system, and metabolic diseases, including hormones
3254121116
Hormones and synthetic substitutes, local and topical (including anti_ infective combinations) corticoids
3254121121
Hormones and synthetic substitutes, andogens, except anabolic agents
3254121126
Hormones and synthetic substitutes, estrogens
3254121131
Hormones and synthetic substitutes, insulins and anti_diabetic agents
3254121136
Hormones and synthetic substitutes, ACTH (corticotropin)
3254121141
Hormones and synthetic substitutes, oral contraceptive preparations
3254121146
Hormones and synthetic substitutes, progestrogens
3254121151
Hormones and synthetic substitutes, sex hormone combinations (except progestogen combinations)
3254121156
Hormones and synthetic substitutes, thyroid and antithyroid preparations
3254121161
Hormones and synthetic substitutes, anabolic agents
3254121166
Hormones and synthetic substitutes, other hormone preparations
3254121171
Anti_neoplastic agents, radioactive isotopes for internal use
3254121176
Anti_neoplastic agents, including busulfan, chlorambucil, cyclophosphamide, vinscristine and antimetabolites (folic acid, purine, and glutamine antagonists)
3254121181
Other pharmaceutical preparations affecting neoplasms, the endocrine system, and metabolic diseases, for human use
3254124
Pharmaceutical preparations, acting on the central nervous system & sense organs
32541240
Pharmaceutical preparations, acting on the central nervous system and the sense organs, for human use
3254124000
Pharmaceutical preparations, acting on the central nervous system and the sense organs, for human use
3254124011
Parasympathamimetic cholinergic drugs
3254124014
Skeletal muscle relaxants
3254124017
Narcotic internal analgesics and antipyretics, opium and derivatives
3254124021
Narcotic internal analgesics and antipyretics, synthetic narcotics
3254124024
Nonnarcotic internal analgesics and antipyretics, salicylates, aspirin (acetylsalicylic acid)
3254124027
Nonnarcotic internal analgesics and antipyretics, other salicylates, such as sodium salicylate
3254124031
Nonnarcotic internal analgesics and antipyretics, aspirin combinations
3254124034
Nonnarcotic internal analgesics and antipyretics, acetaminophen and combinations
3254124037
Nonnarcotic internal analgesics and antipyretics, antiarthritics and anti~ inflammatory agents
3254124041
Internal analgesics and antipyretics, nec, including effervescent types and suppositories
3254124044
Anticonvulsants, except barbituates and analogs
3254124047
Psychotherapeutic agents, antidepressants
3254124051
Psychotherapeutic agents, tranquilizers, phenothiazine derivatives
3254124054
Psychotherapeutic agents, tranquilizers, except phenothiazine derivatives
3254124057
Psychotherapeutic agents nec
3254124061
Central nervous system (central nervous system) stimulants, amphetamines
3254124064
Central nervous system stimulants, anorexiants except amphetamines
3254124067
Central nervous system stimulants, nec
3254124071
Prescription sedatives, anxiolytics and hypnotics, barbituates
3254124074
Prescription sedatives, anxiolytics and hypnotics, nonbarbituates
3254124077
Nonprescription sedatives, anxiolytics and hypnotics, sleep inducers
3254124081
Nonprescription sedatives, anxiolytics and hypnotics, calming agents
3254124084
Anesthetics, except urinary tract anesthetics and antipruritic skin preparations, local and topical
3254124087
Anesthetics, except urinary tract anesthetics and antipruritic skin preparations, general
3254124091
Eye and ear preparations (excluding anti~infective corticoids, antibacterials and antiseptics), mydriatics and miotics
3254124093
Eye and ear preparations (excluding anti~infective corticoids, antibacterials and antiseptics), contact lens solutions
3254124095
Eye and ear preparations (excluding anti~infective corticoids, antibacterials and antiseptics), other eye and ear preparations
3254124097
Pharmaceutical preparations, acting on the central nervous system and the sense organs, for human use, other
32541241
Pharmaceutical preparations, acting on the central nervous system and the sense organs, for human use
3254124100
Pharmaceutical preparations, acting on the central nervous system and the sense organs, for human use
3254124111
Analgesics
32541241111
Analgesics, prescription
32541241112
Analgesics, non-prescription
3254124112
Psychotherapeutics
32541241121
Antidepressants
32541241123
Other psychotherapeutics, including tranquilizers
3254124113
Other central nervous system and sense organs
3254124114
Skeletal muscle relaxants
3254124117
Narcotic internal analgesics and antipyretics, opium and derivatives
3254124121
Narcotic internal analgesics and antipyretics, synthetic narcotics
3254124124
Non_narcotic internal analgesics and antipyretics, salicylates, aspirin (acetylsalicylic acid)
3254124127
Non_narcotic internal analgesics and antipyretics, other salicylates
3254124131
Non_narcotic internal analgesics and antipyretics, aspirin combinations
3254124134
Non_narcotic internal analgesics and antipyretics, acetaminophen and combinations
3254124137
Non_narcotic internal analgesics and antipyretics, anti_arthritics and anti_ inflammatory agents (non_hormonal)
3254124141
Other internal analgesics and antipyretics, including effervescent types and suppositories
3254124144
Anticonvulsants, except barbituates and analogs
3254124147
Psychotherapeutic agents, antidepressants
3254124151
Psychotherapeutic agents, tranquilizers, phenothiazine derivatives
3254124154
Psychotherapeutic agents, tranquilizers, other (except phenothiazine derivatives)
3254124157
Other psychotherapeutic agents
3254124161
Central nervous system stimulants (respiratory and cerebral stimulants) (excluding nondrug dietaries for weight control), amphetamines
3254124164
Central nervous system stimulants (respiratory and cerebral stimulants), anorexiants (except amphetamines)
3254124167
Central nervous system stimulants (respiratory and cerebral stimulants) (excluding nondrug dietaries for weight control), other
3254124171
Prescription sedatives, anxiolytics and hypnotics, barbituates
3254124174
Prescription sedatives, anxiolytics and hypnotics, non_barbituates
3254124177
Non_prescription sedatives, anxiolytics and hypnotics, sleep inducers (excluding antihistamines)
3254124181
Non_prescription sedatives, anxiolytics and hypnotics, calming agents
3254124184
Anesthetics (except urinary tract anesthetics and antipruritic skin preparations), local and topical
3254124187
Anesthetics (except urinary tract anesthetics and antipruritic skin preparations), general
3254124191
Eye and ear preparations (excluding anti_infective corticoids, antibacterials and antiseptics), mydriatics and miotics
3254124193
Eye and ear preparations (excluding anti_infective corticoids, antibacterials and antiseptics), contact lens solutions
3254124195
Eye and ear preparations (excluding anti_infective corticoids, antibacterials and antiseptics), other eye and ear preparations
3254124197
Other pharmaceutical preparations acting on the central nervous system and the sense organs, for human use
3254127
Pharmaceutical preparations, acting on the cardiovascular system
32541270
Pharmaceutical preparations, acting on the cardiovascular system, for human use
3254127000
Pharmaceutical preparations, acting on the cardiovascular system, for human use
3254127011
Anticoagulants
3254127016
Hemostatics
3254127021
Digitalis preparations
3254127026
Hypotensives, rauwolfia~alkaloid preparations
3254127031
Hypotensives, beta receptor blocking agents
3254127036
Hypotensives, other, nec
3254127041
Vasodilators, coronary
3254127046
Vasodilators, peripheral
3254127051
Vasodilators, antiarrhythmics
3254127056
Vasodilators, calcium channel blockers
3254127061
Vasodilators, ace inhibitors
3254127066
Pharmaceutical preparations, acting on the cardiovascular system, for human use, other, including vasopressors, and antiheparin agents
32541271
Pharmaceutical preparations, acting on the cardiovascular system, for human use
3254127100
Pharmaceutical preparations, acting on the cardiovascular system, for human use
3254127111
Anticoagulants
3254127112
ACE inhibitors
3254127113
Other cardiovascular preparations
3254127116
Hemostatics
3254127121
Digitalis preparations
3254127126
Hypotensives, rauwolfia_alkaloid preparations and rauwolfia_diuretic combinations
3254127131
Hypotensives, beta receptor blocking agents
3254127136
Other hypotensives
3254127141
Vasodilators, coronary
3254127146
Vasodilators, peripheral
3254127151
Vasodilators, anti_arrhythmics
3254127156
Vasodilators, calcium channel blockers
3254127161
Vasodilators, ace inhibitors
3254127166
Other pharmaceutical preparations acting on the cardiovascular system, for human use, including vasopressors and antiheparin agents
325412A
Pharmaceutical preparations, acting on the respiratory system
325412A0
Pharmaceutical preparations, acting on the respiratory system, for human use
325412A000
Pharmaceutical preparations, acting on the respiratory system, for human use
325412A011
Antihistamines, except cold preparations and antiemetics
325412A016
Bronchial dilators, including antiasthmatics
325412A021
Cough and cold preparations (prescription), cough preparations and expectorants, narcotic
325412A026
Cough and cold preparations (prescription), cough preparations and expectorants, nonnarcotic
325412A031
Cough and cold preparations (prescription), cold preparations, nasal decongestants
325412A036
Cough and cold preparations (prescription), cold preparations, antihistamine
325412A041
Cough and cold preparations (prescription), cold preparations, other
325412A046
Cough and cold preparations (prescription), cough and cold combinations
325412A051
Cough and cold preparations (nonprescription), decongestants, nasal sprays
325412A056
Cough and cold preparations (nonprescription), decongestants, nose drops
325412A061
Cough and cold preparations (nonprescription), decongestants, other
325412A066
Cough and cold preparations (nonprescription), cough syrups
325412A071
Cough and cold preparations (nonprescription), capsules and tablets
325412A076
Cough and cold preparations (nonprescription), lozenges
325412A081
Cough and cold preparations (nonprescription), topical preparations
325412A086
Cough and cold preparations (nonprescription), cough drops
325412A091
Cough and cold preparations (nonprescription), other nonprescription cough and cold preparations
325412A094
Cough and cold preparations (nonprescription), beta agonists
325412A097
Pharmaceutical preparations acting on the respiratory system, for human use, other
325412A1
Pharmaceutical preparations, acting on the respiratory system, for human use
325412A100
Pharmaceutical preparations, acting on the respiratory system, for human use
325412A111
Bronchial therapy
325412A112
Other respiratory preparations
325412A1121
Other respiratory preparations, prescription
325412A1122
Other respiratory preparations, non-prescription
325412A116
Bronchial dilators, including antiasthmatics
325412A121
Cough and cold preparations (prescription), cough preparations and expectorants, narcotic
325412A126
Cough and cold preparations (prescription), cough preparations and expectorants, non_narcotic
325412A131
Cough and cold preparations (prescription), cold preparations, nasal decongestants
325412A136
Cough and cold preparations (prescription), cold preparations, antihistamine
325412A141
Cough and cold preparations (prescription), cold preparations, other
325412A146
Cough and cold preparations (prescription), cough and cold combinations
325412A151
Cough and cold preparations (non_prescription), decongestants, nasal sprays
325412A156
Cough and cold preparations (non_prescription), decongestants, nose drops
325412A161
Cough and cold preparations (non_prescription), decongestants, other
325412A166
Cough and cold preparations (non_prescription), cough syrups
325412A171
Cough and cold preparations (non_prescription), capsules and tablets
325412A176
Cough and cold preparations (non_prescription), lozenges
325412A181
Cough and cold preparations (non_prescription), topical preparations
325412A186
Cough and cold preparations (non_prescription), cough drops
325412A191
Cough and cold preparations (non_prescription), other
325412A194
Cough and cold preparations (nonprescription), beta agonists
325412A197
Other pharmaceutical preparations acting on the respiratory system, for human use
325412D
Pharmaceutical preparations, acting on the digestive or genito-urinary systems
325412D0
Pharmaceutical preparations, acting on the digestive or the genito~urinary systems, for human use
325412D000
Pharmaceutical preparations, acting on the digestive or the genito~urinary systems, for human use
325412D011
Digestive system preparations, enzymes
325412D014
Digestive system preparations, antacids including acid neutralizing products and products with coating functions
325412D017
Digestive system preparations, antidiarrheals
325412D021
Digestive system preparations, laxatives, irritants
325412D024
Digestive system preparations, laxatives, bulk producing
325412D027
Digestive system preparations, laxatives, fecal softeners
325412D031
Digestive system preparations, laxatives, emollients
325412D034
Digestive system preparations, laxatives, saline
325412D037
Digestive system preparations, laxatives, enema specialties
325412D041
Digestive system preparations, digestants
325412D044
Digestive system preparations, bile therapy preparations, including bile products, choleretics, and cholagogues
325412D047
Digestive system preparations, antinauseants and motion sickness remedies (antiemetics)
325412D051
Digestive system preparations, lipotropics and cholesteral reducers
325412D054
Digestive system preparations, diet aides containing local anesthetics such as benzocaine
325412D057
Digestive system preparations, antispasmodics and anticholinergics, synthetics
325412D061
Digestive system preparations, antispasmodics and anticholinergics, ataractic combinations
325412D064
Digestive system preparations, antispasmodics and anticholinergics, belladonna and derivatives
325412D067
Digestive system preparations, antispasmodics and anticholinergics, H2 blocking agents
325412D071
Digestive system preparations, antispasmodics and anticholinergics, nec
325412D074
Digestive system preparations, other including emetics, nec
325412D077
Genito~urinary preparations, urinary antibacterials and antiseptic preparations
325412D081
Genito~urinary preparations, diuretics, thiazides and related agents
325412D084
Genito~urinary preparations, diuretics, other diuretics
325412D087
Genito~urinary preparations, oxytocics
325412D091
Genito~urinary preparations, contraceptive agents, except oral contraceptives (aerosols, jels, sponges, and creams)
325412D093
Genito~urinary preparations, premenstrual tension preparations
325412D095
Genito~urinary preparations, vaginal cleaners
325412D097
Pharmaceutical preparations, acting on the genito~urinary system, including urinary tract anesthetics, for human use, other
325412D1
Pharmaceutical preparations, acting on the digestive or the genito_urinary systems, for human use
325412D100
Pharmaceutical preparations, acting on the digestive or the genito_urinary systems, for human use
325412D111
Antispasmodic/antisecretory
325412D112
Other digestive or genito-urinary preparations
325412D1121
Other digestive or genito-urinary preparations, prescription
325412D1122
Other digestive or genito-urinary preparations, non-prescription
325412D114
Digestive system preparations, antacids (including acid neutralizing products and products with coating functions), excluding effervescent salicylate products classified as analgesics
325412D117
Digestive system preparations, anti
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