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United Kingdom Pharmaceuticals and Healthcare Report Q2 2008Published by: Business Monitor International Published: Apr. 22, 2008 - 91 Pages Table of Contents
AbstractThe UK is one of the leading drug markets in Western Europe and should continue to develop stronglyover the forecast period to reach a value of GBP34.4bn. Strengths include the de-regulated over-thecounter (OTC) market as well as continuing demand for patented pharmaceuticals. The country’s scientific infrastructure and research capabilities are also world-class, being outmatched in many areas only by the US. However, the Association of the British Pharmaceutical Industry (ABPI) claims that plans to re-negotiate the Pharmaceutical Pricing Regulation Scheme (PPRS) is creating a more uncertain environment for drugmakers. According to a recent survey of 100 British pharmaceutical companies conducted by the ABPI and the Confederation of British Industry (CBI), more than one-third are expecting to reduce the level of R&D spending in the country and nearly half expect the number of clinical trials to drop. Meanwhile pessimism seems at an all time high with 83% of companies expecting the situation to deteriorate. Despite this gloom, the major British drugmakers are faring well, with AstraZeneca recording a 9% increase in sales in 2007 to US$29.6bn as it partially included results from recent acquisition MedImmune. Shire has also announced positive results for 2007, driven by good performances from its leading products and the emergence of Vyvanse (lisdexamfetamine dimesylate), the attention-deficit hyperactivity disorder (ADHD) drug. In 2007, total revenues grew by 36% to US$2.4bn. However, leading drugmaker GlaxoSmithKline (GSK) has announced that turnover fell marginally in 2007 to US$22.7bn (US$44.3bn) after safety warnings had an impact on sales of its leading diabetes drug Avandia (rosiglitazone) and generic competition reduced sales in the key US market. The UK remains in fourth place in the Business Environment Rankings for the Western European region, although its position may slip depending on the negotiations over the PPRS and how the economy fares in this time of global uncertainty. Get Full Details About This Report >> |
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