Industry Report Card: European Health Care Dec 04
Standard & Poors, December 2004
Abstract
(Editor's note: The tables in this article are designed for exporting in certain Standard & Poor's products; therefore, printing quality may vary. Changing your page orientation to landscape mode, reducing your page margins, and/or reducing the text size in your browser may improve the printed output.) During the third quarter of 2004, growth within the pharmaceutical industry in Western Europe--which represents about 25% of the global market--moderated further to 5% from an average of 6%-7%% during the first half of 2004. This is due to continued negative effects from the ongoing health care reforms, in particular in Germany (market growth of about 4%), France (5%), and Italy (4%), the world's third-, fourth-, and sixth-largest markets, respectively. Pricing pressure is essentially...
Companies mentioned in this report are:
- Bayer AG
- AstraZeneca PLC
- Fresenius Medical Care AG & Co. KGaA
- Novartis AG
- GlaxoSmithKline PLC
- Sanofi
- Fresenius SE & Co. KGaA
- Schering AG
- Nycomed S.C.A. SICAR
- Merck KGaA
- Novo Nordisk A/S
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Bayer AG
- AstraZeneca PLC
- Fresenius Medical Care AG & Co. KGaA
- Novartis AG
- GlaxoSmithKline PLC
- Sanofi
- Fresenius SE & Co. KGaA
- Schering AG
- Nycomed S.C.A. SICAR
- Merck KGaA
- Novo Nordisk A/S
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