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Malaysia Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 15, 2008 - 84 Pages Table of Contents
AbstractFor the Q308 update of the Malaysia Pharmaceuticals & Healthcare report, BMI has completely overhauledits drug market forecast model, which has resulted in many new data points through to 2012. Because the toolincorporates five macroeconomic variables, the country’s disease burden and subjective analyst modification,the fundamental change is to the top-line projection. We now expect the value of pharmaceuticals (patentedproducts + generic drugs + over-the-counter medicines) sold in Malaysia to reach US$1.52bn by 2012, whichis slightly less than our Q208 forecast of US$18.2bn.The Malaysian government risks further unpopularity if it goes ahead with plans to encourage individuals tocontribute more to public healthcare funds. Because of rising state spending, a leading member of the rulingelite wants people to increase their social responsibility and buy more health insurance. Those that do willreceive tax rebates. In line with the regional trend, BMI believes that Malaysians will inevitably buy morehealth insurance over the medium term. However, after the recent protests over steep fuel price hikes, beingtold to do so will not go down well with electorate. Due to their strength in innovative products, multinationals control about 70% of the pharmaceutical market,especially in terms of innovative and specialised products. All of the major multinational drug companies arerepresented in Malaysia, although only a small number have a direct manufacturing presence, largely as aresult of restrictive regulatory practices. Companies with significant local production facilities are B BraunPharmaceuticals, GlaxoSmithKline (GSK), Johnson & Johnson and Ranbaxy. Multinationals, which areprimarily represented by the Pharmaceutical Association of Malaysia (PhAMA), are gradually getting involvedin the fields of local biotechnology, clinical trials and bio-equivalence studies, illustrating the rising marketpotential as well as an improvement in operating conditions. Continuing the regional trend, Malaysian doctors will soon be forced to stop dispensing medicines that theyhave prescribed. The topic is currently under debate, with all stakeholders - healthcare professionals, patientsand the pharmaceutical industry - contributing their opinions on the potential new rules. BMI stronglywelcomes this separation of roles as there is a clear conflict of interest, but acknowledges that it may not bepossible in remote parts of the country. Get Full Details About This Report >> |
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