Dallas, TX -- (SBWIRE) -- 11/14/2010 -- SandlerResearch announce United Kingdom Pharmaceuticals and Healthcare Report Q4 2010
In BMI's Q410 Pharmaceuticals & Healthcare Business Environment Ratings, the Western Europe region scored an average total of 64.5 out of 100. The attractiveness of the region to pharmaceutical firms stems from the fact that its countries are key revenue sources for ‘big pharma', particularly for companies selling high-end products, as per capita spending is substantially higher than in emerging markets. However, it is BMI's view that drug companies will face many challenges in Western Europe over the next decade, including the need to reduce fiscal deficits, the patent cliff, added regulatory hurdles and increasingly scrupulous cost effectiveness assessments of new drugs - all factors that will influence the risk and reward scores assigned to markets in the region.
New fiscal austerity measures in the eurozone in an attempt to calm the bond markets have reinforced our weak growth outlook, adding to existing problems of overleverage, unfavourable demographics and rising unemployment. Wide fiscal deficits will come into increasing focus going forward, especially as a busy election cycle and a weak macroeconomic recovery are likely to continue adding pressure on budgetary dynamics through 2010 and 2011.
The Chancellor of the Exchequer George Osborne presented an emergency budget to parliament on June 22 2010, outlining how the government will cut the largest fiscal deficit in peacetime history. BMI notes that while the National Health Service (NHS) has been ring fenced, it is not a cuts-free zone. The government aims to cut the NHS' administration costs by about a third in order to create cost savings of GBP20bn (US$31bn) by 2014. As a result, more than 20,000 jobs in strategic health authorities and primary care trusts are at risk.
Furthermore, the NHS is to undergo the largest structural change in its history. GPs are to be given control of GBP70bn (US$107bn) of NHS expenditure, taking over the commissioning of the majority of care, including of the running of a collection of hospital, mental health and community services. The Secretary for Health, Andrew Lansley, said it is GPs who spend the money in the NHS through their prescribing and referral decisions and as a result they will be more likely to control the demand for NHS care if they are also managing the finances.
In BMI's Business Environment Ratings for Q410, the UK has maintained its fifth place out of the 10 Western European markets surveyed. The ratings criteria serve to reinforce our estimation of the country's potential due to a stronger emphasis on the regulatory environment, which we see as a major factor affecting the business environment for drugmakers. Globally, the UK is in 10th place. However, while the UK is one of the most developed pharmaceutical markets in the world, emerging and pressing economic and political issues, as well as its strict pricing and reimbursement regimes, have formed major clouds on the pharmaceutical market's horizon. Still, given the high price of medicines and the high per capita drug expenditure levels, medicines will continue to bring in substantial income for companies operating in the country.
Table Of Contents
Executive Summary 5
UK Pharmaceuticals And Healthcare Industry SWOT 6
UK Political SWOT 7
UK Economic SWOT 8
Pharmaceutical Business Environment Ratings 9
Table: Western Europe Pharmaceuticals Business Environment Ratings For Q410 9
Risks 11
UK – Market Summary 13
Regulatory Regime 15
Regulatory Developments 16
Innovative Medicines 18
Generic Medicines 20
OTC Medicines 21
Intellectual Property Issues 23
Counterfeit Pharmaceuticals 24
Table: Examples Of Recalls Of Counterfeit Medicines In The UK 25
Pricing Regime 26
Table: Bilateral Comparisons For Ex-Manufacturer Prices* 31
Generic Prices 32
OTC Prices 34
Reimbursement Regime 35
Industry Developments 36
Epidemiology 36
Non-Communicable Disease 36
Communicable Diseases 39
Healthcare Sector 40
Healthcare Financing 41
Health Insurance 42
Health Tourism 44
Wholesale Sector 44
Wholesale Sector Developments 46
Retail Sector 47
UK Registered Retail Pharmacies As Of March 2008 47
Parallel Imports 50
Research & Development 52
Biotechnology 54
Clinical Trials 55
Industry Forecast Scenario 57
Overall Market Forecast 57
Key Growth Factors – Industry 58
Prescription Drug Market Forecast 59
Patented Market Forecast 61
Generic Drug Market Forecasts 62
OTC Medicine Market Forecast 63
Pharmaceutical Trade Forecast 64
Medical Devices 65
Key Risks To BMI Forecasts 66
Competitive Landscape 67
Pharmaceutical Industry 67
Company Developments 67
Table: Leading Pharmaceutical Corporations In The UK By Market Share (2007) 70
Table: Top Pharmaceutical Products In The UK (2007) 71
Table: Cost Of Prescriptions* Dispensed In Various Disease Areas, 1995-2006 (GBPmn) 73
Company Profiles 74
Leading Indigenous Manufacturers 74
GlaxoSmithKline 74
AstraZeneca 79
Leading Multinational Manufacturers 83
Pfizer 83
Novartis 85
Sanofi-Aventis 87
Merck & Co 89
Country Snapshot: UK Demographic Data 91
Section 1: Population 91
Table: Demographic Indicators, 2005-2030 91
Table: Rural/Urban Breakdown, 2005-2030 92
Section 2: Education and Healthcare 92
Table: Education, 2002-2005 92
Table: Vital Statistics, 2005-2030 92
Section 3: Labour Market and Spending Power 93
Table: Employment Indicators, 2000-2005 93
Table: Consumer Expenditure, 2000-2011 (US$) 93
Table: Average Annual Wages, 2000-2012 94
BMI Methodology 95
How We Generate Our Pharmaceutical Industry Forecasts 95
Risk/Reward Ratings Methodology 96
Ratings Overview 96
Table: Pharmaceutical Business Environment Indicators 97
Weighting 98
Table: Weighting Of Components 98
Sources 98
Forecast Tables 99
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