Fast Market Research recommends "Canada Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 10/02/2013 --Multinational pharmaceutical companies have felt the pressure in Canada's drug market due to the government's cost-containment policy and the significant number of blockbuster drug patent expiries; however, there are still many opportunities for multinational drugmakers in Canada as per capita consumption in Canada is still one of the highest in the world and the Canadian economy remains relatively healthy compared with most developed states. In addition, the government is still looking for ways to attract pharmaceutical companies to its biotechnology potential and capabilities.

Headline Expenditure Projections

- Pharmaceuticals: CAD25.8bn (US$25.6bn) in 2012 to CAD25.7bn (US$24.7bn) in 2013; -0.3% growth in local currency terms and -4.2% growth in US dollar terms. Forecast changed from Q313 due to macroeconomic data changes.
- Healthcare: CAD198.8bn (US$198.7bn) in 2012 to CAD206.3bn (US$198.4bn) in 2013; +3.8% growth in local currency terms and -0.2%growth in US dollar terms. Forecast up from Q313 due to more optimistic macroeconomic data.

View Full Report Details and Table of Contents

Risk/Reward Rating

Canada scores 68.7 in BMI's Pharmaceutical and Healthcare Risk/Reward Rating (RRR), making it the second-most attractive pharmaceutical market in America. We have re-weighted the RRR components to improve the tool, and adjusted scores for all markets in our Pharmaceuticals and Healthcare reports.

Key Trends And Developments

- After Canada's provinces made a coordinated effort to lower generic drug prices as a major cost-saving opportunity for patients and drug plans, generic drug price cuts have negatively affect the bottom lines of pharmacies as we have previously highlighted. The Canadian pharmacy chain Jean Coutu Group's Q113 profit fell by 77%, mainly due to lower generic drug prices. However, we believe that the Canadian government's relatively less austere drug pricing plans have not kept the formulary price for generic drugs as low as possible and we expect further price cuts on the way.
- In June 2013, the Canadian regulatory authorities accepted the MycoTOOL mycoplasma detection test for release testing of a biopharmaceutical product developed by Swiss drugmaker Roche.
- In June 2013, Astellas Pharma and Medivation reported that after a priority review, Health Canada has approved Xtandi (enzalutamide) capsules for the treatment of patients with metastatic castration-resistant prostate cancer (MCRPCA) in the setting of medical or surgical castration who have received docetaxel therapy

BMI Economic View: Given a strong first quarter of 2013 pushing up base effects, we have raised our real GDP growth forecast for Canada in 2013 to 1.7% from 1.5% - though our outlook has not substantively changed. For 2014, we see an improvement to 2.4%.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Healthcare research reports at Fast Market Research

You may also be interested in these related reports:

- Nigeria Pharmaceuticals & Healthcare Report Q4 2013
- Kenya Pharmaceuticals & Healthcare Report Q4 2013
- Latvia Pharmaceuticals & Healthcare Report Q4 2013
- Pakistan Pharmaceuticals & Healthcare Report Q4 2013
- Mexico Pharmaceuticals & Healthcare Report Q4 2013
- Taiwan Pharmaceuticals & Healthcare Report Q4 2013
- Australia Pharmaceuticals & Healthcare Report Q4 2013
- Central America Pharmaceuticals & Healthcare Report Q4 2013
- Netherlands Pharmaceuticals & Healthcare Report Q4 2013
- Portugal Pharmaceuticals & Healthcare Report Q4 2013