New Healthcare market report from Business Monitor International: "India Pharmaceuticals & Healthcare Report Q2 2013"

Boston, MA -- (SBWire) -- 05/28/2013 --We maintain our view that growth potential in the Indian pharmaceutical market is reserved for domestic firms, whose lower-priced generic product portfolios align with the government's aim to lower out-of-pocket healthcare expenditure through lower drug prices. Uncertainties in pharmaceutical regulation, especially in the areas of intellectual property protection, will mean multinationals will remain hesitant to enter this market. For these reasons, we continue to see domestic firms outperforming in India.

Headline Expenditure Projections

Pharmaceuticals: INR845.2bn (US$15.8bn) in 2012 to INR957.7bn (US$18.4bn) in 2013; +13.3% in local currency terms and +16.6% in US dollar terms.

Healthcare: INR3,882.7bn (US$72.6bn) in 2012 to INR4311.4bn (US$82.9bn) in 2013; +16.1% in local currency terms and 14.2% in US dollar terms.

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Risk/Reward Rating: India's Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI's proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. India has a RRR score of 54.4 out of 100, making it the ninth most attractive pharmaceutical market in Asia Pacific.

Key Trends And Developments

In February 2013, India released its budget for 2013/14, in which it maintained its optimism to seek strong economic growth, despite the slowing growth in 2012. India's Central Statistical Office estimates GDP will grow at 5% in 2012. The healthcare sector remains a priority for the government as it seeks to provide healthcare for all of its population. Key figures include:

- INR373,300mn (US$6.9bn) in total to the Ministry of Health and Family Welfare, out of which INR212,390mn (US$3.9bn) will be used for the New National Health Mission.
- INR47,270mn (US$860mn) for medical education, training and research.
- INR1,069mn (US$19.5mn) to the department of Ayurveda, Unani, Siddha and Homoepathy (AYUSH). In the same month, US-based Mylan and India-based Biocon entered into an agreement to develop and commercialise generic versions of three insulin analogues, specifically Sanofi's Lantus (insulin glargine), Eli Lilly's Humalog (insulin lispro) and Novo Nordisk's Novolog (insulin aspart).

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