DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/48b0c6/lebanon_pharmaceut) has
announced the addition of the "Lebanon Pharmaceuticals and Healthcare Report Q4
2009" report to their offering.
Lebanon Pharmaceuticals and Healthcare Report provides industry professionals
and strategists, corporate analysts, pharmaceutical associations, government
departments and regulatory bodies with independent forecasts and competitive
intelligence on Lebanon's pharmaceuticals and healthcare industry.
We expect total drug spending in Lebanon to increase from under US$500mn in 2008
to US$605mn in 2013, a compound annual growth rate (CAGR) of 3.9% in US dollar
terms, with 1.75% of GDP dedicated to pharmaceutical expenditure by 2013.
The Minister of Health, Mohammad Jawad Khalifeh, has held the position since
2005 and has dramatically reformed drug pricing in the country, highlighting the
fact that other countries in the region with similar economies were paying
significantly less for medicines than Lebanon. Following a lengthy period of
pressure, the government finally reduced average pharmaceutical prices by 5%,
with the momentum and support gained in the process providing the impetus for
other regulatory changes, including the introduction of transparency guidelines.
Public sector health provisions have been scrutinised and challenged by Khalifeh
in light of high unmet demand for subsidised services. He said the budget for
the Ministry of Public Health in 2005 was only 3.5% of GDP and subsequently the
department ran into deficit every year. While a small population will restrict
growth, we believe government subsidisation will do much to boost the drug
market. More affordable prices and access to hospitals will allow people to
spend more on medicines instead of forgoing treatment altogether.
Despite the price differences, there is little perceivable demand for off-patent
drugs outside of the public healthcare sector. However, the prescribing habits
of doctors are a major factor in determining demand. The lack of transparency
and registration notification to physicians for new generic drugs exacerbates
this problem. While government websites aim to clarify which patented medicines
have a generic equivalent in the country, the low exposure of off-patent
medicines to the patient is the reason the CAGR for this sector is only 3.85%
between 2008 and 2013.
The generic drug sector in Lebanon will experience slow growth over the next
five years, largely due to established partnerships between the private sector
and the government in determining procurement policies. Critics of the Ministry
of Public Health have said that importers and wholesalers in the country cannot
profit as much from selling generic medicines as patented - an obvious incentive
against ordering cheaper drugs. In this sense, the pharmaceutical industry in
Lebanon is not being regulated in favour of the patient.
Another key issue is that the country lacks an internationally accredited drug
testing and analysis laboratory, and therefore relies on patented medicines as
these are already approved by the US Food and Drug Administration (FDA) or the
European Medicines Agency (EMEA). Relying on international regulatory standards
is a means of assuring quality if the country does not have the means to do so
itself. The expense of reopening a laboratory that closed in 2007 remains
off-putting and continues to inhibit progress. However, Lebanon's pharmaceutical
sector cannot progress without a centralised drug testing laboratory and as a
result is set to remain restricted in terms of drug choice and market growth.
Key Topics Covered:
* Executive Summary
* SWOT Analysis
* Business Environment Ratings
* Market Summary
* Regulatory Regime
* Industry Developments
* Industry Forecast Scenario
* Competitive Landscape
* Company Profiles
* Global Assumptions
* Country Snapshot: Lebanon Demographic Data
* Methodology
Companies Mentioned:
* Pfizer
* Novartis
* Merck & Co
* Johnson & Johnson
* Sanofi-Aventis
* Abbott Laboratories
* Chalhoub Pharmaceuticals (CHAPHA)
* Alfa Laboratories
* Algorithm
* Codipha
For more information visit
http://www.researchandmarkets.com/research/48b0c6/lebanon_pharmaceut
Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Copyright Business Wire 2009
