New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 08/15/2013 -- This quarter has seen the health ministry's commitment to developing the biotechnology sector demonstrated by its decision to fast-track stem cell therapy candidate NurOwn, discovered by local company Brainstorm Cell Therapeutics, through early stage clinical trials. It is indicative that there is flexibility in perceived long clinical trial approval times granted by the government in developing and commercialising locally-produced biotechnology products, one of the key deterrents to investment in the country.
Headline Expenditure Projections
- Pharmaceuticals: ILS7.39bn (US$1.92bn) in 2012 to ILS7.76bn (US$2.15bn) in 2013; +5.0% in local currency terms and 12.4% in US dollar terms. Forecast broadly in line with Q213.
- Healthcare: ILS70.12bn (US$18.20bn) in 2012 to ILS74.65bn (US$20.74bn) in 2013; +6.5% in local currency terms and 14.0% in US dollar terms. Forecast broadly in line with Q213.
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The Israeli pharmaceutical sector boasts a number of key qualities. These include a largely urbanised population with a significant pensioner proportion and widespread preference for patented medicines. However, we highlight weak intellectual property (IP) laws and long drug approval times as severe hindrances to multinational drugmakers maximising their returns in the market. In BMI's Pharmaceutical Risk/Reward Ratings matrix, the country scores 59 out of 100, making it the leading country for pharmaceutical investment in the Middle East and Africa.
Key Trends And Developments
In May 2013, US drugmaker Oxygen Biotherapeutics confirmed the initiation of patient enrolment for the second cohort in the STOP-TBI Phase IIb clinical study conducted in Israel. The study is intended to assess the potential application of Oxycyte in treating patients with severe, non-penetrating traumatic brain injury.
In April 2013, BioLineRx reported positive Phase IIa results for BL-7040 which showed that the orallyavailable drug for treating inflammatory bowel disease was generally safe and also effective for some patients in treating ulcerative colitis. Half of patients met the primary endpoint, secondary endpoint data were somewhat mixed.
In April 2013, Teva said that the company's medicine for oral multiple sclerosis, laquinimod, is expected to obtain registration in Europe in 2014. The company added that US regulatory authorities have asked for another phase III trial of the drug, before considering it for the US market.
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