India Pharmaceuticals & Healthcare Report Q1 2013 - New Market Research Report

Fast Market Research recommends "India Pharmaceuticals & Healthcare Report Q1 2013" from Business Monitor International, now available

by Bill Thompson

(WireNews+Co) - Boston, MA - 08 March 2013

BMI View: India continues to be a key emerging market for many pharmaceutical firms, primarily due to its large population and a high burden of communicable and non-communicable diseases. However, we note that constant regulatory flip-flops will remain a downside risk for pharmaceutical investors looking to invest in this market. This is especially true for innovative drugmakers, as the government has revoked or rejected several patents on the basis that the drugs were 'not innovative' and too costly. Conversely, pharmaceutical firms that are able to provide drugs at a significantly cheaper cost will stand to benefit from volume sales.

Headline Expenditure Projections

Pharmaceuticals: INR730.0bn (US$15.6bn) in 2011 to INR837.6bn (US$15.7bn) in 2012; +14.7% in local currency terms and +0.1% in US dollar terms. Forecast slightly down from Q412 due to macroeconomic changes.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/541216_india_pharmaceuticals_healthcare_report_q1_2013.aspx?afid=201) (http://www.fastmr.com/prod/541216_india_pharmaceuticals_healthcare_report_q1_2013.aspx?afid=201)

Healthcare: INR3,446.7bn (US$73.9bn) in 2011 to INR3,870.1bn (US$72.3bn) in 2012; +12.3% in local currency terms and -2.1% in US dollar terms. Forecast broadly in line with previous quarter.

Medical devices: INR172.9bn (US$3.7bn) in 2011 to INR194.3bn (US$3.6bn) in 2012; +12.4% in local currency terms and -2% in US dollar terms. Forecast upgraded due to new historic data.

Risk/Reward Rating: India's Pharmaceutical Risk/Reward Ratings score is unchanged since Q312 at 54.4, stabilising its position at ninth out of the 18 key markets in the Asia Pacific region. The attractiveness of the market is supported by the increasingly ageing and affluent population equating to a strong burden of both communicable and non-communicable diseases. However, growth opportunities will continue to be hinder by the government's extensive bureaucracy. Consequently while we expect improving regulations over the medium term. We caution, however, that there will not be a rapid enhancement in its attractiveness.

Key Trends And Developments

- In November 2012, India revoked the patent covering Roche's Pegasys (peginterferon alfa-2a), which is used for the treatment of hepatitis C. Following a petition by the Sankalp Rehabilitation Trust, the Intellectual Property Appellate Board (IPAB) said the medicine no better than existing and the product's high price meant it was unaffordable to the majority of patients. The decision is highly retrogressive as the Pegasys patent was actually the first awarded by India's then newly improved intellectually property regime in 2006.
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