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The Pharmaceutical Market: Italy


Description: THE PHARMACEUTICAL MARKET: ITALY - REVIEW

The size of the population and the provision of universal healthcare under the national health service ensure that the Italian pharmaceutical market remains the fourth largest in Europe despite the market having the lowest growth rate of all the developed economies. The Italian population is ageing and the percentage over 65 years has already exceeded 20% and is set to rise still further with a corresponding increase in chronic and long term medical conditions. This will inevitably increase demand for pharmaceutical products, placing additional financial strain on the working population to support those of pensionable age. However, cost containment measures are restricting growth in the pharmaceutical market, particularly the retail pharmacy market.

A number of risk-sharing agreements have been initiated in the Italian hospital market in order to accelerate reimbursement, particularly for newly approved oncology drugs. These schemes are directly related to the effectiveness of the drug. The SSN agrees to reimburse treatment costs initially, at 50% of the cost for some drugs and 100% for others, for a fixed number of treatment cycles or time period. Subsequently, the SSN will only reimburse if patients are responding to treatment. For non-responders, treatment is withdrawn and, in some cases, the marketing authorisation holder pays for the treatment previously reimbursed.

Italy’s public debt is projected to peak at 120% of GDP by the end of 2011 and is one of the highest in Europe. In mid August 2011, a series of austerity measures was approved by the Italian cabinet with cuts amounting to around EUR 45.5 billion (US$63 billion). The arguments continued however and the measures have since been revised, including an earlier than planned rise in the retirement age for women to 65, to be introduced in 2014; and an increase in VAT from 20% to 21%. In the health sector, patients will now have to pay a EUR 10 (US$13) prescription charge for a consultation with a specialist and EUR 25 (US$31) for non-urgent treatment in hospital accident and emergency departments. Italy’s regions will be able to decide whether to apply these charges in full or to subsidise them. The austerity measures prompted an angry response from the Italian public, culminating in a general strike on 6th September with cancellation of flights, buses and trains and the closure of government offices.

It has been reported that two of Italy’s pharmaceutical companies may be up for sale. Sigma-Tau is one of Italy’s leading pharmaceutical companies and one of the largest privately owned pharmaceutical companies in Europe. Following the death of the company’s founder, Claudio Cavazza, in June 2011, it was reported in Bloomberg Businessweek online in August that the Cavazza family is leaning toward selling a stake in the company, perhaps to private equity investors. The deal could value Sigma-Tau at around EUR 1 billion (US$ 1.4 billion). A decision could be made by the end of the year. Separately, the potential sale of a second Italian pharmaceutical company was reported in September 2011; Rottapharm|Madaus may be up for sale in a deal that could be valued at around EUR 2 billion (US$ 2.9 billion).

ENHANCED STRATEGIC INTELLIGENCE

These highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:

- Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
- Specialised intelligence on OTCs, generics, biologics and biosimilars.
- Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
- A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
- The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.

HEALTHCARE STATISTICS

A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.


Contents: HEALTHCARE STATISTICS

A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.

EXECUTIVE SUMMARY
Including Espicom's at a glance strategic analysis and key data projections

MACROENVIRONMENT
Political, economic, legal and demographic analysis

EPIDEMIOLOGY
Disease burden and prevalence

HEALTHCARE
Organisation, expenditure, infrastructure, services and workforce

REGULATORY AFFAIRS
Regulatory developments and marketing registration/authorisation

PRICING & REIMBURSEMENT

DISTRIBUTION CHANNELS

MARKET ANALYSIS
Projections, product development, manufacturing and trade

COMPETITION
Trade associations, trade fairs, company intelligence and competitive strategies

OTC PHARMACEUTICALS

GENERIC PHARMACEUTICALS

BIOLOGICS & BIOSIMILARS

OPPORTUNITIES & CHALLENGES
Espicom's unique strategic analysis

DIRECTORY

METHODOLOGY & SOURCES




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