Spain Pharmaceuticals and Healthcare Report Q3 2007

Business Monitor International, September 2007, Pages: 80

The Spain Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Spains pharmaceuticals and healthcare industry.

Spain’s drug market was worth US$16.18bn in 2006 and should reach a value of US$18.4bn by 2011. However, the reference pricing system implemented in March 2007 - which is discussed in detail in our Spain Pharmaceuticals & Healthcare Report Q307 - is likely to act as a considerable obstacle to market growth over the forecast period.

On a positive note, the government has pledged to increase R&D expenditure in the health sector as it seeks to restore Spain’s competitiveness in this area. Under the National Plan for Scientific Research and Technological Innovation and Design 2008-2001 the investment in R&D is to rise from 1.13% of GDP to 2.18% by 2011. However, a promise from industry association Farmaindustria to plough EUR300mn
(US$404.09mn) into orphan drugs in return for improvements in the IP regime have been dismissed, much to the chagrin of stakeholders.

Elsewhere, the government is determined to ensure that Spanish patients will be given access to the latest oncology drugs. Under Spain’s new medicines law, reimbursement will only be restricted for drugs that offer no additional benefit to existing treatments. In this environment, older drugs, or ‘me-too’ offerings, will struggle but innovative new drugs should flourish. This is especially true in the dynamic oncology sector, which has seen a number of revolutionary - albeit expensive - medicines released in recent years.

Examples include Swiss drugmaker Roches revolutionary breast cancer treatment Herceptin (trastuzumab), which gained European approval in 2006, while its colorectal cancer drug Avastin (bevacisumab) hit the market in 2005.

Spain has maintained its position slightly in our Business Environment Rankings for the Western European region, where it is in joint third place. In Q307, we improved our score for Regulatory Barriers, due to the government’s pledge to reimburse cancer drugs, which bodes well for multinational companies. The country also benefits from stable political and economic indicators, although the strength of local firms provides some downside and restricts the import market.

Executive Summary
Spain: Pharmaceutical & Healthcare Industry SWOT
Spain Economic SWOT
Spain: Business Environment Rankings
Western Europe
Business Environment Ranking
Economics - Long-Term Risk
Politics - Long-Term Risk
Regulatory Barriers
Domestic Sector Threat
Market Growth Potential
Market Size Ranking
Spain: Market Summary
Regulatory Regime
Intellectual Property Issues
Pricing & Reimbursement Issues
Timeline: Spains Pharmaceutical Pricing Reforms
Price Cut On Older Drugs
Reference Pricing System
Industry Reaction
Parallel Trade
Industry Developments
Foreign Sector
Generics Sector
Indigenous Manufacturing Sector
Research Sector Developments
Table: Firms Active In Nanofarma Consortium
Government Investment
Industry Forecast Scenario
Overall Market Forecast
Table: Spain Drug Market Forecast Indicators
Table: Spain Health Expenditure Forecast Indicators
Key Growth Factors - Industry
Key Growth Factors - Macroeconomic
Table: Spain - Macroeconomic Forecasts
Prescription Market Forecast
Table: Mortality By Major Cause Of Death, 2003
Table: Spain Prescription Drugs Market Forecast Indicators
OTC Market Forecast
Table: Spain OTC Market Forecast Indicators
Generics Market Forecast
Table: Spain Generics & Branded Market Forecast Indicators
Export/Import Forecast
Table: Sectoral Trade Indicators
Competitive Landscape
Retail Market
Manufacturers
Table: Leading Spain Pharmaceutical Manufacturers
Company Profiles
Leading Multinational Manufacturers
GlaxoSmithKline (GSK)
Pfizer
Novartis
Sanofi-Aventis
Merck & Co
Indigenous Manufacturers
Almirall Prodesfarma
Dr Esteve
Our Forecast Modelling
How We Generate Our Industry Forecasts
Pharmaceutical Industry

- Almirall Prodesfarma
- Dr Esteve
- GlaxoSmithKline (GSK)
- Merck & Co
- Novartis
- Pfizer
- Sanofi-Aventis

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