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

Boston, MA -- (SBWire) -- 08/09/2013 --We continue to expect a year-on-year (y-o-y) contraction in the value of the Belgian pharmaceutical market in 2013, as public expenditure continues to be challenged by the need for cost containment. While high per capita consumption of medicines continue to offer opportunities for researchbased pharmaceutical companies, risks will remain elevated, especially given the current economic backdrop.

Headline Expenditure Projections

- Pharmaceuticals: EUR5.96bn (US$7.57bn) in 2012 to EUR5.85bn (US$7.85bn) in 2013; -1.80% in local currency terms and +3.6% in US dollar terms. Local currency forecast virtually unchanged from Q213.
- Healthcare: EUR40.37bn (US$51.26bn) in 2012 to EUR41.20bn (US$55.21bn) in 2013; +2.1% in local currency terms and +7.7% in US dollar terms. Local currency forecast broadly unchanged from Q213.

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Risk/Reward Rating: The new risk and reward assessment Pharmaceutical Risk/Reward Rating (RRR) tool is now more transparent and more sensitive in regards to potential rewards. Nevertheless, Belgium retains its place in the regional table, ranking sixth out of the ten markets surveyed in the Western European region. Both its composite Risk and Rewards scores are seen as more favourable than the regional average, although a combination of patent expirations and the government's focus on cost-containment in the sphere of public spending will continue to weigh on its pharmaceutical market growth.

Key Trends And Developments

- In February 2013, German STADA Arzneimittel's wholly-owned Belgian sales company, Eurogenerics, and Belgian Omega Pharma signed a new contract with a minimum term of five years for the distribution of generic drugs to pharmacies and wholesalers in Belgium. As compared with the previous conditions, Eurogenerics expects the new contract to result in annual cost reductions in the higher single-digit million euro area over the contract period. Eurogenerics has been carrying out the operational distribution of its products in Belgium via Omega Pharma since 1999.

BMI Economic View: The Belgian economy is likely to be subdued in 2013, as was the case in the previous year. Although the macro fundamentals warrant a relatively more favourable assessment compared to the eurozone for this year, the economy will, nonetheless, not escape the drag from deepening recessions in the periphery. We forecast almost zero growth for 2013, with the risks tilted to the downside.

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