Boston, MA -- (SBWire) -- 08/09/2013 --In line with our view that France will miss its fiscal deficit target of 3.0% of GDP in 2013 (and we maintain our forecast of 3.5%) we expect the government to engage in more concerted fiscal consolidation over the coming quarters - with a heavy focus on the pharmaceuticals and healthcare sector.
Headline Expenditure Projections
- Pharmaceuticals: EUR34.17bn (US$43.40bn) in 2012 to EUR32.94bn (US$40.19bn) in 2013; -3.6% in local currency terms and -7.4% in US dollar terms.
- Healthcare: EUR239.29bn (US$303.90bn) in 2012 to EUR243.95bn (US$297.61bn) in 2013; +1.9% in local currency terms and -2.1% in US dollar terms.
Risk/Reward Ratings: France remains ranked fourth out of the 10 markets in BMI's Western Europe Pharmaceutical Risk/Reward Ratings (RRR) matrix for Q213, with a composite score, at 67.9 out of the maximum 100 points. The country's reward profile remains considerably less attractive than its risk score, reinforcing our view of the country's potential due to a stronger emphasis on the regulatory environment, which we regard as a major factor affecting the business environment for drugmakers, rather than on the basis of real opportunities for higher per-capita drug consumption
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Key Trends And Developments
- Multinational drugmaker Sanofi recorded sales of EUR34.95bn (US$46.86bn), a 4.7% increase on in 2011 on reported basis terms (+0.5% in constant exchange rate (CER) terms). The company's 2012 net income fell by 7.0% in reported basis terms (-12.9% in CER terms), reaching EUR8.18bn (US$10.97bn).
- On January 30 2013, ANSM suspended sales of Bayer's acne pill Diane 35 (and all the generic versions of the drug), after four deaths over the past 25 years were linked to its use. ANSM said it would phase in the suspension over three months to allow women to switch to other treatments. About 315,000 women used Diane 35 or its generic version in France in 2012.
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New Market Research Report: France Pharmaceuticals & Healthcare Report Q3 2013
Recently published research from Business Monitor International, "France Pharmaceuticals & Healthcare Report Q3 2013", is now available at Fast Market Research