Pharma

In: Historical Events

Submitted By jjehanzeb86
Words 25253
Pages 102
Impact of the economic recession on the pharmaceutical sector

February 2010 I.M. Buysse (UU) Supervised by: R.O. Laing (WHO) A.K. Mantel (UU)

WHO COLLABORATING CENTRE FOR PHARMACOEPIDEMIOLOGY & PHARMACEUTICAL POLICY ANALYSIS

Impact of the economic recession on the pharmaceutical sector

Table of contents
Executive summary ................................................................................................................................. 3 Introduction ............................................................................................................................................ 6 Background ............................................................................................................................................. 8
History of recessions ............................................................................................................................................................. 8 Asian Crisis 1997-2000 .......................................................................................................................................................... 9 Economic crisis 2008-2009.................................................................................................................................................. 12 WHO involvement in assessing the impact of the recession .............................................................................................. 14 Hypotheses ......................................................................................................................................................................... 15

Methods ................................................................................................................................................ 16
IMS data collection…...

Similar Documents

Pharma

... March. Latvian News Agency. 2009 28 Januari 2009. Lithuania: Revised budget of 2009 after Easter Baltic Business News. 2009 12 April 2009. Saluse JaAA. Impact of taxation policy on pharmaceutical policy. 2008 October 2008;Health Policy Monitor. Industry Trend Analysis - Ministry Of Health Wrestling To Prevent Price Hikes BMI Industry Insights - Pharma & Healthcare, Emerging Europe. 10 June 2009. Thompson M. GP Visits and Other Medical Services to See Price Hike in Latvia from 2009 Global Insight Daily Analysis. 2008 13 October 2008. About the ATC/DDD system. 2009 29-09-2009 [cited 2009 02-12-2009]; Available from: www.whocc.no/atcddd/atcsystem.html IMF. World Economic Outlook Update: A Policy-Driven, Multispeed Recovery. January, 26 2010 [cited 18 February 2010]; Available from: http://www.imf.org/external/pubs/ft/weo/2010/update/01/index.htm Seputyte M. Baltic Countries to Remain in Recessions in 2010, Danske Says. BusinessWeek. 2010 17 February 2010. Simon Z, Brown, A. East Europe’s Recovery ‘Limps’ as Czech Slump Deepens (Update3). BussinessWeek. 2010 February, 12 2010. 53 References Impact of the economic recession on pharmaceutical consumption Annexes Annex 1: Correlation decline in GDP and pharmaceutical consumption ............................................. 55 Annex 2: Consumption of medicines with acute and chronic indication ............................................. 56 Annex 3: Consumption of original & licensed brands and others brands...

Words: 25253 - Pages: 102

Pharma

... The Omani Pharmaceutical Market ................................................................ 19 3. 4. 5. 6. 7. 8. GROWTH DRIVERS ............................................................................... 21 CHALLENGES........................................................................................ 27 TRENDS ............................................................................................... 31 PORTER’S FIVE FORCES MODEL ........................................................... 35 MERGER AND ACQUISITION (M&A) ACTIVITIES .................................. 36 MARKET OUTLOOK AND RECOMMENDATIONS ...................................... 38 COUNTRY PROFILES ......................................................................................... 41 COMPANY PROFILES ........................................................................................ 48 GCC Pharmaceutical Sector | March 31, 2013 Page | 3 “The pharma sector in Qatar is poised for growth over the next few years in line with the growth trend in GCC, which is the wider market segment. A major driver to this will be the projected growth in the economy. On the regulatory side, the recent legislation proposed by the Supreme Health Council towards deregulation of pharmaceutical imports to encourage free market competition is a step in the right direction. The industry is also looking forward to the proposed national health insurance program, as this is perceived to be a......

Words: 27542 - Pages: 111

Indian Pharma

...Pharmaceutical and Medical Products Practice India Pharma 2020 Propelling access and acceptance, realising true potential The report is furnished to the recipient for information purposes only. Each recipient should conduct its own investigation and analysis of any such information contained in this report. No recipient is entitled to rely on the work of McKinsey & Company, Inc. contained in this report for any purpose. McKinsey & Company, Inc. makes no representations or warranties regarding the accuracy or completeness of such information and expressly disclaims any and all liabilities based on such information or on omissions therefrom. The recipient must not reproduce, disclose or distribute the information contained herein without the express prior written consent of McKinsey & Company, Inc. 12 Executive summary India Pharma 2020: Propelling access and acceptance, realising true potential 13 Global pharmaceutical markets are in the midst of major discontinuities. While growth in developed markets will slow down, emerging markets will become increasingly important in the coming decade. The Indian pharmaceuticals market, along with the markets of China, Brazil and Russia, will spearhead growth within these markets. The Indian pharmaceuticals market has characteristics that make it unique. First, branded generics dominate, making up for 70 to 80 per cent of the retail market. Second, local players have enjoyed a dominant position driven by...

Words: 9542 - Pages: 39

Big Pharma

...Big Pharma: More Drugs Equals More Money Sarah Kutasi Georgian Court University Big Pharma pulls back the curtain on the multi-billion dollar pharmaceutical industry to expose the dangerous ways that illness is used, manipulated, and in some instances created, for capital gain. Focusing on the industry's marketing practices, media scholars and health professionals help viewers understand the ways in which direct-to-consumer (DTC) pharmaceutical advertising glamorizes and normalizes the use of prescription medication, and works in tandem with promotion to doctors. Combined, these industry practices shape how both patients and doctors understand and relate to disease and treatment. Being that I have worked in a pharmacy now for 5 years, this video has deeply impacted me and my way of thinking. Of course I see what I saw on this video every day, however I don’t think I realized how it doesn’t just affect Toms River, New Jersey, but rather the entire world. When patients come in with newspaper clippings on a certain drug, whether it be over the counter or prescription or when they simply say, “Oh I saw it on Dr. Oz” or “I saw it on a commercial” it often makes me wonder how gullible these people are. They need to realize the advertisements are made so that drug companies can make money and benefit from these pseudoscience medications. It makes me mad that hundreds of people come in throughout the day just looking for trouble when they are perfectly healthy...

Words: 669 - Pages: 3

Big Pharma

...The effect of big pharma on healthcare EN 1320 26 May 2013 The effect of big pharma on healthcare Big pharmacy has always been a hot button issue, for as long as I can remember. It is proven that the large drug companies are using unethical practices to help boost sales. These practices in turn cost the patient more at the counter in the pharmacy. This also leads to shady practices by physicians. Fortune magazine reported that in 2008, the pharmaceutical industry continued to be in the top three most profitable industries in the United States for the past two decades. Studies show that marketing strategies used by pharmaceutical representatives such as education, samples, office support, and patient resources can increase brand recognition and influence prescribing. This leads to patients being influenced to spend more money on the brand name drugs, rather than the cheaper generic versions that work exactly the same. References Insert References Here. Place the cursor at the beginning of this line, and then, on the CiteWrite menu, click Format, Write Bibliography. For more help with your references, click Start, Programs, Dr Paper, Dr Paper Help, and go through the instructions under Using CiteWrite for your References. If you just have one or two references, you might want to just type them by hand, following these examples: Hall, K. G. (2005, August 29). Web page title. Website title. Retrieved September 25, 2005, from......

Words: 276 - Pages: 2

Pharma

...RESEARCH PROJECT ON “TRAINING AND DEVELOPMENT IN PHARMASUITICAL INDUSTRY WITH SPECIAL REFERENCE OF MANKIND PHARMA LTD” SUBMITTED IN PARTIAL FULFILLMENT OF DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION SESSION (2011-2014) SUBMITTED TO: SUBMITTED BY: XYZ XYZ BBA III University Roll No. SUBMITTED TO ACKNOWLEGDEMENT “Gratitude is the hardest of emotions to express and one often does not find adequate words to convey what one feels and trying to express it” The present project file is an amalgamated of various thoughts and experiences .The successful completion of this project report would have not been possible without the help and guidance of number of people and specially to my project guide .I take this opportunity to thank all those who have directly and indirectly inspired, directed and helped me towards successful completion of this project report. I am also immensely indebted to my project guide, MS. Divya Vaid Lecturer, ICL, for his...

Words: 8569 - Pages: 35

Pharma 2020

...www.pwc.com/pharma2020 Pharma 2020: Supplying the future Which path will you take? Pharmaceuticals and Life Sciences Previous publications in this series include: Pharmaceuticals Pharma 2020: The vision Which path will you take?* Published in June 2007, this paper highlights a number of issues that will have a major bearing on the industry by 2020. The publication outlines the changes we believe will best help pharmaceutical companies realise the potential the future holds to enhance the value they provide to shareholders and society alike. Pharmaceuticals and Life Sciences Pharma 2020: Challenging business models Which path will you take? Fourth in the Pharma 2020 series and published in April 2009, this report highlights how Pharma’s fully integrated business models may not be the best option for the pharma industry in 2020; more creative collaboration models may be more attractive. This paper also evaluates the advantages and disadvantages of the alternative business models and how each stands up against the challenges facing the industry. *connectedthinking Pharma 2020: The vision  # Pharmaceuticals and Life Sciences Pharma 2020: Virtual R&D Which path will you take? This report, published in June 2008, explores opportunities to improve the R&D process. It proposes that new technologies will enable the adoption of virtual R&D; and by operating in a more connected world the industry, in collaboration with researchers, governments, healthcare payers and...

Words: 13197 - Pages: 53

Xyz Pharma

...Project Portfolio Management at XYZ Pharma Part 1- The objectives in the Project Portfolio Management include strategically organizing the importance of different issues within the company, focus more on the sales growth rather than the sales figure, and prioritize the research and development. The constraints that take place within the case are linked to the discovery of different drugs and the risks that follow. Also, John Smith mentioned lengthening and shortening the steps of developing a new drug; which plays a factor on the developing cost and will increase significantly. Another constraint is the generic competitors. In the article it mentioned that the generic drugs to the newly made drugs can be freely sold without clinical trials. The risks involved within XYZ Pharma are mainly associated with the cost factors. It is extremely expensive to spend money on the drugs that never reach the market. Each process takes years to get through and the percentage of drugs that make it through each stage decreases each time. Stated in the case study, on average only 1 in 5 drugs that enter the clinical trials are launched onto the market. Also, if a drug doe’s make it to be sold in the market, there is only a 30% chance the drug is successful enough to recover from the development costs to yield a healthy return. Companies must rely on a limited number of highly successful products to properly finance their R&D and companies in their recent years have only been...

Words: 629 - Pages: 3

Xyz Pharma

...September 2005 Project Portfolio Management at XYZ Pharma Early morning, Monday 29th August 2005. John Smith, head of portfolio management and strategic planning, was paging through the slides he had prepared for the Portfolio Management Board (PMB) meeting which would start at 9 am, and which was scheduled to last until Friday. “We have been preparing this meeting for weeks”, he thought, “and it seems the PMB has some tough decisions to make”. The PMB of XYZ Pharma, the pharmaceutical division of XYZ, one of the world’s leading companies in the life science sector, convenes yearly in August to review the composition of the research and development (R&D) project portfolio. It also meets on a monthly basis to monitor the project portfolio and make decisions regarding new developments. According to John Smith, “The PMB is an important decision making body because it shapes the future of the company by determining its product pipeline”. The PMB members include the CEO of XYZ, the CEO of XYZ Pharma, the heads of the different business units, the heads of Development, Research, Global Marketing and Strategic Planning, the regional heads for the US, Europe and Japan and the functional managers for Regulation, Clinical, Licensing, Technical Research and Development, and Patents. The portfolio group, led by John Smith, had analysed the project portfolio carefully and had highlighted several potential threats that required action. According to John, “There will be an indepth...

Words: 5468 - Pages: 22

Pharma Industry

...INDIAN PHARMACEUTICAL INDUSTRY – AN OVERVIEW 1. Overview The Indian Pharma industry is one of the fastest growing sectors with approximately 20,000 manufacturing units. The industry that is highly price sensitive ranks thirteenth in the global pharmaceutical market in value terms and fourth in volume terms. The country has tremendous export potential in the areas like custom synthesis, R&D, clinical trials, and Bioinformatics. The industry produces 60,000 finished medicines and roughly 400 bulk drugs, which are used in formulations with about 20% of the manufacturers in the bulk drugs segment. India has approximately 1% share of global pharma industry, which is worth US$406 billion. This implies that there is a huge market waiting to be unfolded. The figure below explains the evolution of Indian pharmaceutical industry: Figure 1: Progress Of Indian Pharmaceutical Industry Source: Pharmabiz.com (Article by Dr. Laxman Prasad) 2. Industry Structure and Size 2.1 Industry Structure The Indian Pharma industry is highly fragmented and can broadly be classified in to two categories: organized and unorganized sector. Figure 2: Revenues of Organised vs. Unorganised Sector Source: Secondary Research The organized sector contributes about 70% of the total revenues and consists of 260 units in both manufacturing as well as formulation segment. This sector can further be divided into Indian and multinational companies. The unorganized sector...

Words: 1530 - Pages: 7

Beximco Pharma

... Executive Summary After growing at a robust twenty plus percentage in 2010 and 2011, Bangladesh Pharmaceutical Industry experienced a slower growth in 2012. The market grew by 11.9% in value terms to reach at Tk. 94 billion (IMS: Q4 2012 report). Despite a slower growth in the market, Beximco Pharma managed to achieve desired growth and successfully improve its market share. The country continued to maintain 6% plus GDP growth rate in 2012 as well. The alarming depreciation of Taka against US Dollar that continued throughout 2011 till January 2012 has finally been restrained. Thanks to higher inward remittances, lower payment for import settlements, and moderate growth in export. The local currency appreciated by around 2.5% against US Dollar in 2012. This was somewhat a relief to the predicted risk of significant reduction of gross margin that started brewing in 2011 in the wake of deteriorating value of local currency against US Dollar, high rate of domestic inflation and increase in the interest rates. The liquidity shortage that prevailed throughout 2011 also eased up to some extent in 2012. However, the political crisis that started by end of 2012 centering the upcoming election poses some degree of uncertainty in the overall economic environment of the country and is seen as an impediment to the growth of business. The first quarter of 2013 has already been affected for such instability in the political environment and continues to remain as a risk factor...

Words: 5929 - Pages: 24

Valeant Pharma

... | * “Duty is to maximize profit of all products “(Rockoff & Silverman, 2015, p.3) * Company had a net debt of $30 billion, which fueled their serial acquisitions of patents (Dumortier, 2016, p. 5) * Increased pressure from shareholders to generate higher profits | Legal | * Numerous lawsuits * | S.W.O.T. Analysis Strengths | * Employs over 18,000 people worldwide * Known as a specialist in the fields of Neurology and Dermatology * Manufacturing locations around the world * Strong presence in North America markets (Valeant Pharma SWOT analysis, 2014, p. 1) | Weakness | * Net debt of $30 billion dollars * Poor R&D investment | Opportunities | * Increasing population with heart problems * Acquisitions of already established products | Threats | * Risk of “Generic” brands being produced due to high cost * Changes to U.S. healthcare regulations as a result of recent predatory pricing attempts | Focal Issue Valeant’s move to increase prices far beyond the reasonable grasp of patients is more than just the lust for profit; the bigger underlying issue that affects Valeant and indeed all pharmaceutical companies today is a question of ethics. Companies of this size are accountable to their shareholders first and foremost, as stated by Valeant representative Laurie Little “Our duty is to our shareholders and to maximize the value” of the products that Valeant sells, “Sometimes pricing comes into it, sometimes volume......

Words: 1373 - Pages: 6

Indian Pharma

...“The Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent.” Richard Gerster The Indian Pharmaceutical Industry today is in the front rank of India’s science-based industries with wide ranging capabilities in the complex field of drug manufacture and technology. It ranks very high in the third world, in terms of technology, quality and range of medicines manufactured. From simple headache pills to sophisticated antibiotics and complex cardiac compounds, almost every type of medicine is now made indigenously.  Playing a key role in promoting and sustaining development in the vital field of medicines, Indian Pharma Industry boasts of quality producers and many units approved by regulatory authorities in USA and UK. International companies associated with this sector have stimulated, assisted and spearheaded this dynamic development in the past 53 years and helped to put India on the pharmaceutical map of the world.  Growth Scenario in 2010 India's pharmaceutical industry is now the third largest in the world in terms of volume. Its rank is 14th in terms of value. Between September 2008 and September 2009, the total turnover of India's pharmaceuticals industry was US$ 21.04 billion. The domestic market was worth US$ 12.26 billion. This was reported by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. As...

Words: 1244 - Pages: 5

Indian Pharma

...Pharmabiz :: Vision of India as pharma power house in 2020 Page 1 of 3 Search Here Search Home Editorial Services Interview Q&A Chronicle Specials ePharmail Archives Join Pharma | Login Home > Chronicle Specials News + Font Resize - Vision of India as pharma power house in 2020 Nandita Vijay, Bengaluru Thursday, December 15, 2011, 08:00 Hrs [IST] The Indian pharma industry has gained significant global presence in the last few years and has been competing with other major countries on equal terms. Its remarkable growth can be attributed to its ability to rapidly access and adopt new technologies and also to its success in evolving an effective mechanism to strengthen research and development. The industry's advanced manufacturing facilities have earned laurels from global regulatory authorities. As a result, the world today turns to the Indian pharma industry not only for high-quality and low-cost generic drugs, but also for in-licensing and out -licensing of drugs. The robust Indian pharma industry today produces a range of formulations, has the expertise for active pharmaceutical ingredients (APIs) and sees significant opportunities for value-creation. Hence, the theme of the 63rd edition of IPC, ‘Pharma Vision 2020: India: The Pharma Power house’, encapsulates the present stature of the Indian pharma industry. India, the pharma power house India ranks third in terms of manufacturing pharma products by volume and 14th in value...

Words: 2709 - Pages: 11

Pharma, Co

...Solution for the Case 10-3 - Restructuring Cost Pharma Co. should account for the restructuring program in different ways for the U.K parent and to U.S.-based lender. A. With respect to IFRS, company should use IAS 19 and 37. According to the IAS 19, paragraphs 133 and 134, entity should recognize termination benefits when company terminates the employment of employees before normal retirement date and company has detailed formal plan for termination. This plan should include the location, function and number of employees whose services are to be terminated. The entire $3 million should be recognized as termination benefits according IAS 19, paragraph 135. After Inter-Office Memorandum from December 27, 2010 (appendix B) informing employess of one-time nonvoluntary termination plan, Pharma Co. should recognize a liability of $3 million for the termination benefits on its financial statements from December 31, 2010. Similar situation takes place with the respect of the cost of early lease termination. According to the IAS 37 paragraphs 5(c) and 14, Pharma Co. must apply this standard to operating lease termination case. Paragraphs 72-75 state clearely, Pharma CO should recognize entire $1.3 million announced in the press release from December 15, 2010, as the liability on its December 31, 2010 Balance Sheet. The cost of $1 million related to dismantlement of the existing manufacturing operation should be also included as liability on the December 1...

Words: 607 - Pages: 3