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France Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 15, 2008 - 74 Pages Table of Contents
AbstractThe French pharmaceutical market is one of the most advanced in the world but has been experiencingsolid growth in recent years. BMI expects this to continue over the forecast period - despite governmentefforts at cost containment - which is a testament to the country’s continuing high consumption levels.Up to 2012, nominal growth should be around the 3.5% per year, comfortably outpacing inflation. Franceis also the largest drug producer in Western Europe and a hub for R&D research, although both of theseattributes are threatened by a growing trend towards outsourcing.The biggest change this quarter has been the continuing liberalisation of the OTC sector. Regulatorychanges are to allow some 200 non-prescription drugs to be sold in front of the counter, despitecomplaints from pharmacies that this could cause stiff price competition. The authorities are still resistingcalls to allow the sales of self-medication products in non-pharmacy outlets such as supermarkets, despitea number of high-profile campaigns. It is understandable why the government is keen to move as much drug expenditure away from the Stateas possible. France's social security budget deficit widened in 2007 to EUR9.5bn (US$14.8bn), accordingto government auditors. In 2006, the deficit was EUR8.7bn (US$13.6bn), and the social security auditors(CCS) have identified a 4.2% increase in pharmaceutical expenditure, which contributed EUR2bn(US$3.1bn) to the overall deficit. In spite of this increase in pharmaceutical spending, there was actually a28% reduction in the healthcare deficit in 2007, to EUR4.6bn (US$7.2bn), largely owing to healthcharges and increased tax revenues. Meanwhile, France remains in third place in BMI’s Business Environment Ranking For Western Europe,trailing Switzerland and Germany but ahead of the UK. As the market continues to develop BMI wouldnot be surprised if France moved up to second place in coming quarters, as growth by regional termsremains robust. Get Full Details About This Report >> |
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