Recently published research from Business Monitor International, "Australia Pharmaceuticals & Healthcare Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 09/09/2013 -- Medicine price reductions and a slowing economy will continue to place downside pressures on pharmaceutical firms in Australia. Contributing to this, the government is looking to provide the population with affordable and sustainable pharmaceutical subsidies. However, the listing of new drugs, coupled with rising demand for pharmaceuticals due to the ageing population, will continue to provide both generic and innovative drugmakers with opportunities.
Headline Expenditure Projections
- Pharmaceuticals: AUD13.25bn (US$13.73bn) in 2012 to AUD13.64bn (US$13.43bn) in 2013; +2.9% in local currency terms and -2.1% in US dollar terms, due to exchange rate fluctuations. Forecast downgraded from Q313 due to reassessment of data.
- Healthcare: AUD135.7bn (US$140.5bn) in 2012 to AUD142.0bn (US$139.8bn) in 2013; +4.6% in local currency terms and -0.5% in US dollar terms, due to exchange rate fluctuations. Forecast broadly in line with Q313.
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Australia's Pharmaceutical Risk/Reward Rating (RRR) score for Q413 is 68 out of the maximum 100 in our newly improved RRR system. The country scored above average for all indicators and sub-indicators including overall market expenditure, sector value growth, pensionable population. With this high score, Australia is ranked third, behind Japan and South Korea out of the 19 key Asia Pacific markets.
Key Trends And Developments
- In July 2013, New Zealand-based healthcare distributor Ebos completed its acquisition of Australian pharmaceutical wholesaler Symbion for NZD1.1bn (US$856mn). The company stated that, with the transaction, its annual sales are expected to increase from NZD1.5bn to NZD6.0bn, and Ebos will become the third-largest company in New Zealand by revenue.
- In June 2013, Tenya Plibersek, Minister For Health and Medical Research, announced the listing of new drugs and extended listings, including cancer treatments: Bristol-Myers Squibb's Yervoy (ipilimumab), Janssen's Zytiga (abiraterone acetate),Pierre Fabre's Navelbine (vinorelbine) and other treatments: Janssen's Xarelto (rivaroxaban), and abortion drugsLinepharma (mifepristone) and GyMiso200 (misoprostol).
- In May 2013, the ruling Australian Labor Party (ALP) revealed its budget for fiscal year 2013/14 (July- June), with a revised forecast for the budget to return to surplus in FY2016/17. Key initiatives concerning the pharmaceutical and healthcare sector include:
- AUD19.3bn (US$18.8bn) over the next seven years for the National Disability Insurance Scheme
- An additional AUD691mn (US$672mn) over five years on PBS listings (new, amended or due to price increases)
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