2013-03-23 08:19:11 - Fast Market Research recommends "Italy Pharmaceuticals & Healthcare Report Q2 2013" from Business Monitor International, now available

BMI View: The ongoing hospital debt situation, in addition to the Italian government's focus on dereimbursement, will offset any benefits of the recently passed legislation that encourages increased hospital provision of innovative medicines.

Headline Expenditure Projections

* Pharmaceuticals: EUR23.53bn (US$30.25bn) in 2012 to EUR22.58bn (US$30.25bn) in 2013; -4.0% in local currency terms.
* Healthcare: EUR154.20bn (US$198.25bn) in 2012 to EUR156.83bn (US$210.15bn) in 2013; +1.7% growth in local currency terms.

Risk/Reward Rating: In our Pharmaceuticals and Healthcare Risk/Reward Ratings (RRRs), Italy is ninth out of the 10 markets surveyed in Western Europe. Despite being a large market, Italy is characterised by low levels of annual growth, largely because of widespread price cuts. Additionally, the Italian economy is one of the most vulnerable economies

in an already shaky eurozone. High levels of public debt, poor infrastructure and a lack of competitiveness indicate that the country will remain one of the region's laggards over the forecast period.


Full Report Details at
- www.fastmr.com/prod/552330_italy_pharmaceuticals_healthcare_repo ..


Key Trends And Developments

* In February 2012, Recordati posted its 2012 financial results.. The firm recorded consolidated revenues of EUR828.3mn (US$1.12bn) for the year, which translates to a year-on-year (y-o-y) increase of 8.7%. Operating income came in at US$223mn, a y-o-y increase of 2.1%. Net income grew to US$158.7mn, up 1.8% y-o-y.
* In December 2012, Lundbeck entered into an asset purchase agreement with Recordati that will acquire a portfolio of Lundbeck's non-core products primarily related to the US. The transaction is part of Lundbeck's long-term strategy to focus on innovative products in its portfolio that address psychiatric and neurological disorders. Recordati intends to hire several of the Lundbeck employees who have primarily supported the products involved in this transaction and thereby further streamlining Lundbeck's global production capacity.

BMI Economic View: We forecast the Italian budget deficit to narrow from 3.9% of GDP in 2011 to 2.9% and 1.9% in 2012 and 2013 respectively, with the public debt load peaking at 128.2% of GDPin 2013 once Italy's contributions to the eurozone bailout funds are accounted for. Our core view remains that Italy's fundamentals do not justify a bailout, but its large public debt load and weak economy leave it vulnerable to crises of confidence.

BMI Political View: Our core view remains that Mario Monti's reform drive will not be rolled back after the spring 2013 general election, given the likelihood of the moderate centre-left Democratic Party (PD) leading the next government, combined with external constraints facing Monti's successor. However, anti-austerity and anti-euro rhetoric is likely to pick up ahead of the election, roiling financial markets.

Partial Table of Contents:

Executive Summary
SWOT Analysis
- Italy Pharmaceuticals And Healthcare Industry SWOT
- Italy Political SWOT
- Italy Economic SWOT
- Italy Business Environment SWOT
Pharmaceuticals Risk/Reward Ratings
- Table: Western Europe Pharmaceuticals And Healthcare Risk/Reward Ratings, Q213
- Rewards
- Risks
Market Summary
Regulatory Regime
- Intellectual Property Developments
- Pricing Regime
- Reimbursement Regime
Industry Developments
- Epidemiology
- Healthcare Sector
- Biotechnology
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Table: Italy Pharmaceutical Sales, Historical Data and Forecasts
- Key Growth Drivers - Industry
- Table: Italy Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Italy Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Italy Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Key Growth Drivers - Macroeconomic
- Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Market Indicators, Historical Data and Forecasts
- Patented Drug Market Forecast
- Table: Italy Patented Drug Market Indicators, Historical Data and Forecasts
- Generic Drug Market Forecast
- Table: Italy Generics Drug Market Indicators, Historical Data and Forecasts
- OTC Medicine Market Forecast
- Table: Italy Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
- Pharmaceutical Trade Forecast
- Table: Italy Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Italy Pharmaceutical Trade Data And Forecasts (EURmn)
- Other Healthcare Data Forecasts
- Key Risk To BMI's Forecasts
Competitive Landscape
- PharmaceuticalIndustry
- Recent Company Developments
- Pharmaceutical Wholesale Sector
- Retail Pharmacy Sector
Company Profiles
- Local Companies
- Recordati
- Menarini
- Multinational Companies
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi
- Merck & Co
Demographic Outlook
- Table: Italy's Population By Age Group, 1990-2020 ('000)
- Table: Italy's Population By Age Group, 1990-2020 (% of total)
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Full Table of Contents is available at:
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