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The Pharmaceutical Market: Denmark
Espicom Business Intelligence Ltd, May 2008, Pages: 84
The pharmaceutical industry is a significant sector in the Danish economy. In 2006, the country’s pharmaceutical exports amounted to US$6.4 billion, with a healthy balance of payments surplus of almost US$4.0 billion. Approximately 166 companies are authorised and inspected by the Danish Medicines Agency to carry out pharmaceutical activities (pharmacies and wholesalers excluded). Over recent years the consumption of generics has gradually grown, and in 2006 amounted to around 39% of the total consumption in the primary sector in terms of volume. The total number of wholesalers in Denmark is approximately 250, of which three major wholesale companies provide a full product range. The wholesale system is a multi-channel system.
Prior to April 2005, there was a price freeze on pharmaceuticals and reimbursement levels were based upon reference prices in other northern European countries. Since then, reimbursement levels for each class have been based on the cheapest generic drug.
There is strong domestic production although many producers focus on Denmark’s export market, therefore many pharmaceutical imports are in retail-ready packages. The Danish Medicines Agency is experiencing, similar to authorities in many other countries, several challenges in relation to the pharmaceutical system. A constant issue for several years has been rising pharmaceutical expenditure, linked to an ageing population, the uptake of new, more effective and more expensive pharmaceuticals combined with more intensive medical treatment and including a rising number of different substances. Another challenge is trying to introduce new innovative pharmaceuticals at the optimum time, i.e. neither too soon or too late.
Other ethical and economic challenges include the lack of relevant head-to-head clinical trials of new pharmaceuticals against existing treatment, along with the so-called lifestyle pharmaceuticals. In addition, among other things, definitions combined with useful and standard operating procedures are needed on how to evaluate ‘therapeutic added value’.
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