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"Spain Pharmaceuticals & Healthcare Report Q1 2014" now available at Fast Market Research

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2014-01-03 16:55:31 - Fast Market Research recommends "Spain Pharmaceuticals & Healthcare Report Q1 2014" from Business Monitor International, now available

The Spanish government's multifaceted strategy to contain expenditure on prescription medicines by targeting patients, companies and the healthcare sector in general highlights the challenge companies face selling their products in the country. While lobbying the government to ease up on measures targeting the pricing of drugs may work to ease pressures on revenues, we believe the complexity of the cost-containment measures will inevitably continue to work against companies.

Headline Expenditure Projections

* Pharmaceuticals: EUR24.99bn (US$31.74bn) in 2012 to EUR24.08bn (US$32.03bn) in 2013; -3.6% in local currency terms and -0.9% in US dollar terms.
* Healthcare: EUR99.61bn (US$126.51bn) in 2012 to EUR98.91bn (US$131.54bn) in 2013; -0.7% in local currency terms and 4.0% in US dollar terms.

Risk/Reward Rating

In BMI's Pharmaceutical Risk/Reward Ratings

(RRRs) for Q114, Spain is ranked 11th out of the 14 countries surveyed in Western Europe. While Spain offers investors positive features, such as its large drug market, it also has problems, such as the government's focus on cost containment, low population growth, cumbersome bureaucracy and provincial differences regarding drug regulations and reimbursement.

Full Report Details at
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Key Trends And Developments

In December 2013, Spain's largest drugmaker Almirall announced that it is to restructure its European workforce, which will see the loss of 250 jobs in its home market of Spain, equivalent to 15% of the local workforce. Approximately half of the company's workforce is employed in Spain.

On November 11, Novartis announced a definitive agreement to divest its blood transfusion diagnostics unit to Spanish company Grifols for US$1.675bn. The blood transfusion diagnostics unit formed part of Novartis Vaccines and Diagnostics. Not included in the sale was the Novartis Companion Diagnostics unit, or the Genoptix business. This sale forms part of a wider strategic review that was put into action following the appointment of new Chairman Joerg Reinhardt, who was appointed in August. The company is aiming to create a scalable businesses with the potential to compete globally.

BMI Economic View: We forecast Spain's economy to return to growth and expand by 0.7% in 2014, on the back of steady export growth. Nevertheless, fiscal austerity and weak investment spending will drag on the recovery, while dire labour market conditions stifle private consumption.

BMI Political View: Popular support for Spain's ruling People's Party (PP) government will remain low over the coming quarters, as the country's modest economic recovery fails to translate into significantly lower unemployment or larger disposable incomes. Corruption allegations are likely to continue being levelled at the government, boosting support for traditionally smaller political parties and Catalan independence in 2014.

Partial Table of Contents:

BMI Industry View
- BMI Industry View
- Political
- Economic
- Business Environment
Industry Forecast
- Pharmaceutical Market Forecast
- Table: Spain Pharmaceutical Sales, Historical Data And Forecasts
- Healthcare Market Forecast
- Table: Spain Healthcare Expenditure Trends, Data And Forecasts
- Table: Spain Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Spain Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Spain Prescription Drug Market Indicators, Historical Data And Forecasts
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators - Historical Data And Forecasts
- Generic Drug Market Forecast
- Table: Spain Generic Drug Market Indicators, Historical Data And Forecasts
- OTC Medicine Market Forecast
- Table: Spain OTC Medicine Market Indicators, Historical Data And Forecasts
- Pharmaceutical Trade Forecast
- Table: Spain Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Spain Pharmaceutical Trade Data And Forecasts (EURmn)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
Macroeconomic Forecasts
- Economic Analysis
- Table: Spain - Economic Activity
Industry Risk Reward Ratings
- Western Europe Risk/Reward Ratings
- Spain Risk/Reward Ratings
- Rewards
- Risks
Market Overview
Industry Trends And Developments
- Epidemiology
- Healthcare Sector
- Table: Regional Public Hospital Debt - Values In EURmn
- Research & Development
- Clinical Trials
Regulatory Development
- Intellectual Property Issues
- Parallel Trade
- OTC Medicines
- Generic Medicines
- Pricing Regime
- Reference Pricing System
- Reimbursement Regime
Competitive Landscape
- Pharmaceutical Sector
- Generic Drug Sector
- Biotechnology Sector
- Pharmaceutical Retail
Company Profile
- Almirall
- Esteve
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi
- Merck & Co
Demographic Forecast
- Table: Spain's Population By Age Group, 1990-2020 ('000)
- Table: Spain's Population By Age Group, 1990-2020 (% of total)

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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