Australia Pharmaceuticals & Healthcare Report Q2 2013 - New Report Available

New Healthcare market report from Business Monitor International: "Australia Pharmaceuticals & Healthcare Report Q2 2013"

by Bill Thompson

(WireNews+Co) - Boston, MA - 14 March 2013

BMI View: Australia will remain as an attractive place to pharmaceutical firms, given its increasingly ageing population and the corresponding increase in non-communicable and often chronic diseases, despite its low growth potential. In particular, we expect generic drug makers to see more opportunities as the government is looking to rein in expenditures in a bid to reach a budget surplus. Consequently, generic drug substitution, coupled with drug price cuts, will be key themes.

Headline Expenditure Projections

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/541139_australia_pharmaceuticals_healthcare_report_q2.aspx?afid=201) (http://www.fastmr.com/prod/541139_australia_pharmaceuticals_healthcare_report_q2.aspx?afid=201)

- Pharmaceuticals: AUD13.41bn (US$13.95bn) in 2012 to AUD13.85bn (US$13.92bn) in 2013; +3.3% in local currency terms and -0.2% in US dollar terms, due to exchange rate fluctuations.
- Healthcare: AUD129.90bn (US$135.09bn) in 2012 to AUD134.18bn (US$134.85bn) in 2013; +3.3% in local currency terms and -0.2% in US dollar terms, due to exchange rate fluctuations.

Risk/Reward Rating:

Australia's Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI's proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Australia has a RRR score of 66.2 out of 100, making it the second most attractive pharmaceutical market in Asia Pacific.

Key Trends And Developments

- In December 2012, the Australian Competition and Consumer Commission (ACCC) announced that pharmaceutical companies that are members of Medicines Australia will have two years to improve the transparency of payments and sponsorships they make to individual healthcare professionals. The statement was made by ACCC Commissioner Sarah Court. The new code of conduct is scheduled to come into force on January 11 2013. This will be the first time that the member companies are required to disclose aggregate payments made by them to doctors and consumer groups.
- In October 2012, the Australian government appointed an expert panel to review pharmaceutical patents. The panel will seek public comments before submitting a final report to the government in April 2013. Key considerations include the availability of competitively priced pharmaceuticals in the market, the role of the patent system in fostering innovation, providing employment and investment in research.
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