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Just Released: "Puerto Rico Pharmaceuticals & Healthcare Report Q1 2013"

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2013-02-03 08:28:53 - Fast Market Research recommends "Puerto Rico Pharmaceuticals & Healthcare Report Q1 2013" from Business Monitor International, now available

BMI View: The outcome of the upcoming elections is expected to assist in shaping the development of Puerto Rico's healthcare and pharmaceutical markets, depending on the direction of the new governor's economic policies. Nevertheless, we do not expect a return to the historically-high annual rates of pharmaceutical spending, especially as the government now covers less than 40% of the territory's overall healthcare spending. In the meantime, the territory will remain an important pharmaceutical and medical devices production base, although its attractiveness has been on the wane for some time now.

Headline Expenditure Projections

* Pharmaceuticals: US$2.81bn in 2011 to US$2.88bn in 2012; +2.5% in local currency terms. Forecast unchanged from Q412.
* Healthcare: US$11.27bn in 2011 to US$11.67bn in 2012; +3.6%

in local currency terms. Forecast unchanged from Q412.
* Medical devices: US$536mn in 2011 to US$541mn in 2012; +0.9% in local currency terms. Forecast unchanged from Q412.

Full Report Details at
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Risk/Reward Rating: Puerto Rico again remains third in our proprietary Pharmaceutical Risk/Reward Ratings (RRRs) matrix for the Americas in Q113, ranking behind the US and Canada. Its composite score is also an unchanged 65.6 out of the maximum 100, comprising evenly-balanced risk and reward components. In the medium to longer term, Puerto Rico's high matrix placement will come under increased pressure due to factors such as its small population, uneasy economic prospects and competition from emerging markets in Latin America.

Key Trends And Developments

* In October 2012, Johnson & Johnson (J&J) was reported to be investing US$226.5mn in four plants in Puerto Rico. The company, which employs about 3,000 people on the island, will expand two plants in Gurabo and one in Manati. The three plants are part of the company's subsidiary Janssen Pharmaceuticals. The company's medical device division, Ethicon, will expand production at a plant in San Lorenzo. The expansion project will create 308 new jobs, according to local press reports quoting Governor Luis Fortuno.
* In the same month, Californian medical devices company Edwards Lifesciences was reported by local press to be expanding its Puerto Rican plant, with an investment of US$34mn. The US player, which currently employs around 780 staff in Puerto Rico, commenced its local operations in Anasco in 2000. The expansion of the facility is expected to create around 350 jobs. In addition to Puerto Rico, the company also manufactures heart valves and other products in California, Dominican Republic, Switzerland and Singapore.

BMI Economic View: We forecast Puerto Rico's economy to return to positive territory in 2012 after contracting continuously every year since 2007. However, even when taking into account our real GDP forecast of 1.2% for 2012, real GDP growth still averages a contraction of 2.0% per annum over the four years to now. In addition, unemployment has averaged 15.4% over the same period, partly because of austerity programs, which have seen a 17.0% cut in government payrolls since Luis Fortuno took office.

BMI Political View: We believe the opposition candidate Alejandro Garcia Padilla has a slight advantage over incumbent Governor Luis Fortuno in Puerto Rico's November 6 2012 governorship election. Indeed, given the commonwealth's poor economic performance, including contracting growth and high unemployment, the electorate is eager for a change. Moreover, while a referendum to decide the political status of Puerto Rico will also be held on Election Day, we believe it is unlikely the commonwealth will vote for statehood.

Partial Table of Contents:

SWOT Analysis
- Puerto Rico Pharmaceuticals And Healthcare Industry SWOT
Pharmaceutical Risk/Reward Ratings
- Table: Americas Pharmaceutical Risk/Reward Ratings, Q113
- Rewards
- Risks
Puerto Rico - Market Summary
Regulatory Regime
- Pricing And Reimbursement Issues
- Tax Incentives
- Table: Incentives, Benefits And Discounts For Pharmaceutical Manufacturers
- Trade Accords
Industry Developments
- Epidemiology
- Healthcare Sector
- Effects Of US Healthcare Reform
- Healthcare Financing
- Healthcare Provision
- Research & Development
- Biotechnology
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Pharmaceutical Market Forecast
- Table: Pharmaceutical Sales Indicators 2008-2016
- Healthcare Market Forecast
- Table: Healthcare Expenditure Indicators 2008-2016
- Table: Healthcare Governmental Indicators 2008-2016
- Table: Healthcare Private Indicators 2008-2016
- Key Growth Factors - Macroeconomic
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2008-2016
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2008-2016
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2008-2016
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2008-2016
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2008-2016
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2008-2016
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Table: Major International Drugmakers In Puerto Rico
- Pharmaceutical Production
- Plant Closures
- Table: Puerto Rico: Multinational Downscaling
- Company Developments
- Pharmaceutical Wholesale
- Pharmaceutical Retail
Company Profiles
- Pfizer
- GlaxoSmithKline
- Merck & Co
- Abbott Laboratories
- Novartis
- Sanofi-Aventis
- Eli Lilly
- Johnson & Johnson (J&J)
Demographic Outlook
- Table: Puerto Rico's Population By Age Group, 1990-2020 ('000)
- Table: Puerto Rico's Population By Age Group, 1990-2020 (% of total)

Full Table of Contents is available at:

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