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The Pharmaceutical Market: Israel

Espicom Business Intelligence Ltd, Oct 2011, Pages: 54


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THE PHARMACEUTICAL MARKET: ISRAEL - REVIEW

The macroenvironment for the Israeli pharmaceutical industry is positive overall. Politically, the outlook remains challenging, with unrest in the Middle East posing a threat to Israel’s security. Although the Prime Minister, Binyamin Netanyahu, still retains a majority in the Knesset, after the recent departure of the Labour Party from his coalition, an election is expected to be held before it is due in 2013. Economically, Israel’s recovery from recession has been comparatively rapid, and growth in the economy is accelerating. Legally, Israel is working towards being removed from the USTR’s Priority Watch List, after agreeing to amend its IP laws. Principally, Israel has agreed to amend its patent laws and lengthen its data protection period for innovative medicines, raising data exclusivity to 6.5 years, up from the current 5.5 years. Demographically, the proportion of residents aged 65 years and over will rise to over 10% of the total population by 2016. Therefore, the population is relatively young by worldwide standards, despite having the highest proportion of over 65’s in the MEA region.

The Israeli pharmaceutical market is set to experience strong growth over the forecast period, with cost-effective generics emerging as the driving force of the market. The pharmaceutical market is dominated by generic drugs, with Teva at the forefront. Generic competition within the country has increased, with locally produced drugs as well as imported products entering the marketplace, and downward pressure on prices coming from the healthcare funds.

Israel offers first rate R&D facilities and continues to enhance its burgeoning reputation in the field of biotechnology. Teva has a biotechnology R&D site in Israel, and is currently undertaking further study with a biosimilar drug. In March 2011, XTL Biopharmaceuticals announced it was to acquire a private biotechnology company, while in August 2010, XTL completed the acquisition of an Israeli biologic company.

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.



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