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Spain Pharmaceuticals and Healthcare Report Q3 2015

102 Pages BMI Research June 24, 2015 SKU: BMI5600276

Spain Pharmaceuticals and Healthcare Report Q3 2015

BMI View: Spain's non-transparent and unpredictable government medicine pricing system and theimplementation of numerous emergency measures to contain pharmaceutical spending will highly disruptmultinational drugmakers' strategy and revenue streams. Despite the Spanish economy exiting crisis mode,we believe that the Spanish government will continue to target the healthcare sector - a large recipient ofgovernment funds. As a result, we uphold our bearish outlook for the Spanish pharmaceutical market overthe next five years.

Headline Expenditure Projections

Pharmaceuticals: EUR23.02bn (USD30.85bn) in 2014 to EUR22.36bn (USD24.60bn) in 2015; -2.9% inlocal currency terms and -20.3% in US dollar terms. Forecast in line with last quarter.

Healthcare: EUR89.16bn (USD119.47bn) in 2014 to EUR89.51bn (USD98.46bn) in 2015; +0.4% inlocal currency terms and -17.6% in US dollar terms. Forecast revised downwards from last quarter.

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Spain Pharmaceuticals and Healthcare Report Q3 2015

BMI Research
June 24, 2015

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