The business environment in Iran will remain decidedly difficult, limiting the incentive formultinational drugmakers to invest in the country. As a consequence, we expect the country's competitivelandscape to evolve, with pharmaceutical imports gradually diminishing and domestic firms capturing alarger market share over a multi-year horizon.
Headline Expenditure Projections
Pharmaceuticals: IRR79.60trn (USD1.99bn) in 2016 to IRR90.80trn (USD2.33bn) in 2017; +14.1% inlocal currency terms and +17.0% in US dollar terms. Forecast unchanged from previous quarter.
Healthcare: IRR898.08trn (USD22.45bn) in 2016 to IRR1006.01trn (USD25.80bn) in 2017; +12.0% inlocal currency terms and +14.9% in US dollar terms. Forecast unchanged from previous quarter.
In July 2017, Iran's Deputy Health Minister Dr. Bagher Larijani and a team of Iraqi medical officialsannounced an agreement to cooperate on several scientific projects. These include the construction ofIraq's first foreign medical university by the Tehran University of Medical Sciences in collaboration withthe Iraqi health ministry.