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Belgium Pharmaceuticals and Healthcare Report Q4 2011
Business Monitor International, Sep 2011, Pages: 89
Business Monitor International's (BMI) Belgium Pharmaceuticals and Healthcare Report (Q4 2011) provides industry professionals and strategists, corporate analysts, telecommunication associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Belgium's pharmaceuticals and healthcare industries.
According to BMI, the expected growth of Belgium's ageing population is to have an unprecedented effect on the provision of healthcare. The elderly require more medical check-ups and care than young people due to the increased prevalence of chronic disease with age, and therefore consume a disproportionately large share of healthcare services. The increase in healthcare spending on the ageing population will force public bodies to look for cost-containment in other areas – specifically medicines which command high proportions of healthcare budgets – which will not sit well with drugmakers.
Headline Expenditure Projections
- Pharmaceuticals: EUR4.56bn (US$6.05bn) in 2010 to EUR4.48bn (US$6.41bn) in 2011; -1.8% in local currency terms and +5.9% in US dollar terms.
- Healthcare: EUR35.75bn (US$47.42bn) in 2010 to EUR36.81bn (US$52.63bn) in 2011; +3.0% in local currency terms and +11.0% in US dollar terms.
- Medical devices: EUR7.70bn (US$10.21bn) in 2010 to EUR8.20bn (US$11.73bn) in 2011; +6.5% in local currency terms and +14.9% in US dollar terms.
Business Environment Rating: Out of a maximum 100, Belgium scored 66.0 in BMI’s Q411 Pharmaceuticals & Healthcare Business Environment Ratings (BERs), placing it fifth in the Western Europe matrix. Although growth in medicine sales is low, the country has a very large market in absolute terms. Furthermore, per-capita spending is high, there is a sizeable pensionable population and regulations are transparent.
Key Trends & Developments
Belgian pharmaceutical company UCB registered EUR1.68bn (US$2.4bn) in revenues in H111 (ended June 30 2011), up 2% year-on-year (y-o-y). During the same period, the company posted a 34% y-o-y surge in net profit to EUR199mn (US$282.2mn). The company reported a 61% y-o-y increase in combined H111 sales of Cimzia (certolizumab pegol), Vimpat (lacosamide) and Neupro (rotigotine) to EUR285mn (US$404.1mn), along with the strong performance of Keppra (levetiracetam) in the European and Japanese markets. The company expects to post revenues of about EUR3.1bn (US$4.4bn) in 2011.
BMI Economic View: The ongoing sovereign debt crises in the Eurozone will have major political and geopolitical consequences for Europe, especially if the currency bloc fragments in some way. It is no exaggeration to say that the future of the whole European 'project' is at stake. Even if the Eurozone survives in its present form, the contradictions it exposes will lead to renewed economic problems, forcing European leaders to focus on internal issues rather than increasing the continent's global influence. French and Belgian sovereign creditworthiness is coming under increasing scrutiny and fiscal consolidation may be accelerated to pre-empt a ratings downgrade.
BMI Political View: A year on from the last parliamentary election, Belgium is still without a government, surpassing all previous European political impasses and displacing Iraq as the world record holder. Moreover, with the markets fairly sanguine for now and both of the main parties showing few signs of conceding on major policy priorities, a resolution still appears some way off. Indeed, given the length of time without a government and attempts by eight successive mediators to broker a deal, it is difficult to see a solution in the near term.
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