subject: Israeli Company Pharmaceutical Manufacturers [print this page] Over the past eight years, sales in the global pharmaceutical market have more than doubled. The United States is still in the lead, reaching the highest per-capita sales in the market as well. It is also the only major industrial country where the provision of medical services and insurance is not unified by a central national strategy. U.S. market growth in 2010 is now expected to be 3-5 percent. While payers seek to limit price increases and boost the use of lower-cost generics, pharmaceutical manufacturers are expected to maintain their pricing practices, competing on the basis of clinical evidence and value.
Around 85.0% of the USA's pharmaceutical requirements are domestically manufactured. A number of companies have made significant cutbacks, making reductions to sales forces. There have been a number of plant closures and scaling back of investment plans. There is an increasing interest in moving into the biologic field for companies traditionally reliant on chemical drugs. This is seen as more profitable as it has greater scope for the development of innovative products and is less susceptible to generic competition. With their acquisitions in 2009, Pfizer and Merck have diversified and enter the biologic sector, whilst Roche is specialising in biologics and diagnostics.
The OTC sector is expected to increase by a low CAGR between 2010 and 2015. Nevertheless, the sector is attractive and market concentration continues. In December 2009, sanofi-aventis agreed to acquire 100.0% of the outstanding shares of Chattem. The transaction will create the world's fifth-largest consumer healthcare company. The modern generic sector is shaped by the Hatch Waxman legislation of 1984. As a result, generics are widely-used and well-accepted in the USA.
This is because generics are usually far cheaper than branded drugs, with the advent of generic competition leading to rapid price falls. The sector is expected to increase by a moderate CAGR between 2010 and 2015. The leading player is the Israeli company Teva Pharmaceuticals but competition is increasing; Watson completed the acquisition of Arrow in December 2009.
Consistent with trends of the past several years, the next five are expected to reflect a significant imbalance between new product introductions and patent losses. This is the primary factor limiting global pharmaceutical market growth to the mid-single digits through 2013. During the next five years, products that currently generate an unprecedented $137 billion in sales are expected to face generic competition, including Lipitor, Plavix, and Seretide. At the same time, new products that will enable innovative approaches for treating patients suffering from diseases such as osteoporosis, respiratory ailments, thrombosis, multiple sclerosis and cancer are not expected to generate the same magnitude of sales as products losing patent protection.
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