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Morocco Pharmaceuticals and Healthcare Report Q3 2011
Business Monitor International, June 2011, Pages: 77
Business Monitor International's Morocco 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 Morocco's pharmaceuticals and healthcare industry.
BMI View: Unlike many states in the Middle East and North Africa (MENA) region, Morocco does not have extensive natural oil and gas reserves. Consequently, the state's finances are stretched and there is a need to realise greater efficiencies in the healthcare system before the introduction of the RAMED scheme at the end of 2011. These savings will come in the form of increased generic medicines prescriptions and a reduction in drug prices.
Headline Expenditure Projections
- Pharmaceuticals: MAD8.67bn (US$1.05bn) in 2010 to MAD9.48bn (US$1.08bn) in 2011; +9.3% in local currency terms and +3.0% in US dollar terms. 2010 sales down significantly from Q211, growth forecast up in light of increase in public fiscal expenditure.
- Healthcare: MAD39.76bn (US$4.80bn) in 2010 to MAD43.00bn (US$4.89bn) in 2011; +8.1% in local currency terms and +1.8% in US dollar terms. Forecast down slightly from Q211 because of delays in enacting the RAMED scheme.
- Medical devices: MAD1.74bn (US$210mn) in 2010 to MAD1.90bn (US$216mn) in 2011; +9.2% in local currency terms and +2.9% in US dollar terms. Forecast up slightly from Q211 because of increase in public fiscal expenditure.
Business Environment Rating: In Q311, Morocco’s pharmaceutical business environment rose two places to be ranked 12th of the total of 19 markets surveyed in the region. It is now above Egypt and Iran, which saw their scores fall in Q311.
Key Trends & Developments
- Morocco's government has announced a set of concessions for public sector workers to alleviate protests threatening the country's stability. The concessions are thought to be worth MAD43bn (US$5.4bn). This money is likely to be spent on salaries, pensions and improving working conditions across the state sector.
- In May 2011, Caisse Nationale des Organismes de Prévoyance Sociale (CNOPS), Morocco's compulsory health insurance scheme for public sector workers, legislated to repay any prescribed medication at the price of generic drugs, making it in the direct interest of patients to buy generic medicines.
- In May 2011, CNOPS agreed with FNSPM, Morocco's national union of pharmacists, that retail mark-ups for drugs to treat chronic diseases should be capped at a maximum of 5% as opposed to the current level of 30%, making care for people with chronic diseases cheaper.
BMI Economic View: We have revised our outlook on Morocco's fiscal position in 2011, with an announced increase in public expenditure underpinning our revision for the budget deficit to widen to 8.0% of GDP, compared with 3.1% previously. Indeed, to cope with the weakening fiscal stance, the government announced it would sell half of its 40% stake in Banque Central Populaire (one of the country's top three lenders), aiming to raise MAD5.3bn. While we expect Morocco to receive further financial aid from the wealthier GCC states, the decision to sell stakes to private entities also seeks to address the need to boost the private sector.
BMI Political View: Although we have long stressed that Morocco is less susceptible to social unrest than most of its North African counterparts, the autocratic regime and poor living standards provide grounds for public discontent. Indeed, on May 22 the Moroccan police clashed with demonstrators who were defying a ban on protests across the nation. The stern action taken by the police points toward a tougher government response over increasingly defiant protests that first erupted in February.
Furthermore, Mohammed Essabbar, secretary general of Morocco's Human Rights Council, has justified police actions against demonstrators by stating that the protests were held without permission.
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