New Healthcare market report from Business Monitor International: "Iran Pharmaceuticals & Healthcare Report Q3 2013"

Boston, MA -- (SBWire) -- 07/25/2013 --We continue to view Iran as a difficult pharmaceutical market. International trade sanctions will continue to have a detrimental impact on the government's revenues, while shortages of medicines are likely to persist. Additionally, runaway inflation will severely erode US dollar values of the country's pharmaceutical market, making it even more unattractive to multinational players, despite the large unmet demand for medicines. In the meantime, despite reports of further development of local pharmaceutical manufacturing capabilities and the focus on research into biosimilars, we do not envisage Iran meeting self-sufficiency in this regard, for the foreseeable future.

Headline Expenditure Projections

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- Pharmaceuticals: IRR50,439bn (US$4.74bn) in 2012 to IRR64,458bn (US$1.79mn) in 2013; +27.8% in local currency terms and -62.2% in US dollar terms. US currency forecast significantly lower in relation to previous quarter, on account of local currency devaluation.
- Healthcare: IRR347,203bn (US$32.60bn) in 2012 to IRR437,725bn (US$12.08bn) in 2013; +25.2% in local currency terms and -63.0% in US dollar terms. US currency forecast significantly lower in relation to previous quarter, on account of local currency devaluation.

Risk/Reward Rating: Having been ranked 15th in Q213, Iran now occupies 19th position out of the 30 countries surveyed in the Middle East and Africa (MEA) region. The adjusted Pharmaceutical Risk/Reward Rating (RRR) is more transparent and more sensitive in regards to potential rewards, with Iran seen as increasingly risky, despite offering substantial potential benefits. Generally speaking, Iran benefits from a large and growing population and relatively widespread access to healthcare services. However, its regulatory regime, including intellectual property (IP) rights and political situation are highly questionable, and combine to create a low score for the risk variable.

Key Trends And Developments

- Four basic materials required for the production of rare medicines have reportedly been developed and produced for the first time in Iran. The statement - cited by Fars News Agency - was made by the public relations official of the Pharmacology College of the Tehran University of Medical Sciences, Mansour Rastegarpanah. The Iranian government announced on March 31 2013 that the country's pharmaceutical research and production facilities had produced the materials required for chemotherapy, pulmonary hypertension and blood coagulation medicines. Iran continues to be committed to its goal of self-sufficiency in terms of pharmaceutical demand, with this goal coming to the fore in the light of tough international sanctions.

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