Boston, MA -- (SBWIRE) -- 05/26/2014 -- The major developments this quarter were local drugmaker Saidal's two licensing manufacturing agreements with foreign drugmakers, and the Algerian College of Cardiologists' call for new hypertension medicines, which illustrates growing interest in the market and an increase in the opportunities on offer. Despite the country's large pharmaceutical market, of which patented medicines comprise 58% of the market value, we believe multinational interest in fixed capital investment will remain subdued due to the government's pro-generic policies and weak intellectual property law.

Headline Expenditure Projections

- Pharmaceuticals: DZD272.95bn (USD3.44bn) in 2013 to DZD302.11bn (USD3.78bn) in 2014; +10.7% in local currency and +10.0% in US dollar terms. Forecasts broadly unchanged from the previous quarter.
- Healthcare: DZD693.06bn (USD8.72bn) in 2013 to DZD749.72bn (USD9.37bn) in 2014; +8.2% in local currency and +7.5% in US dollar terms. Forecasts revised downwards due to modifications to macroeconomic forecast.

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Risk/Reward Rating: In Q314, Algeria has moved up one position to eighth out of the 30 countries surveyed in the Middle East and Africa (MEA) region, scoring 52.7 out of 100. The country is seen as a favourable longer-term option in terms of its pharmaceutical market development.

Key Trends And Developments

April 2014

- The Mexican health ministry and the country's Federal Commission for Protection of Health Risks (Cofepris) recalled anti-cancer biosimilar Kikuzubam from the Mexican market, where it is manufactured by Probiomed. The product is imported by Algeria through the distributor Pharmaghreb.
- Saidal Group and Servier Laboratories signed an agreement allowing Saidal to produce Servier Laboratories' originator drugs under licence, while Servier will transfer technology and knowledge of the production process to Saidal. This alliance illustrates local the drugmaker's efforts to diversify its product range and ensure greater availability of quality drugs on the market, while providing an opportunity for Servier Laboratories to expand its market share in the local market.

March 2014

- It emerged that Hikma Pharmaceutical intends to set up a new drug manufacturing plant in Sidi Abdallah, Algiers, according to a national and international invitation tender reported by the Algeria Press Service. The USD15mn project will include the building of logistical warehouses, according to the invitation to tender launched by Hikma Al Dar El Arabia for Pharmaceutical Industries. The tender call also concerned the extension of Hikma's plant in Staoueli, Algiers.

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