September 30th 2013
£810 / $1295 / €985
France's high public debt-to-GDP ratio will necessitate more aggressive fiscal tightening by the state. This includestargeting the pharmaceuticals and healthcare sector, whichcurrentlyreceivesa large proportion of public funds.
Headline Expenditure Projections
Pharmaceuticals : EUR35.01bn (US$48.66bn) in 2011 to EUR34.17bn (US$43.39bn) in 2012.
-2.4% in local currency terms and -10.8% in US dollar terms. Local currency forecast broadly unchanged from Q3 12.
Healthcare: EUR234.30bn (US$325.68bn) in 2011 to EUR239.29bn (US$303.89bn) in 2012; +2.1% in local currency terms and -6.7% in US dollar terms. Local currency forecast slightly lower f rom Q312 on account of worsening macroeconomic environment .
Medical devices: EUR10.72bn (US$14.89bn) in 2011 to EUR11.07bn (US$14.06bn) in 2012; +3.3% in local currency terms and -5.61% in US dollar terms. Local currency forecast broadly unchanged from Q312.
Risk/Reward Ratings : France remains ranked fourth out of the 10 markets in BMI's Western Europe Pharmaceutical
Risk/Reward Ratings (RRR) matrix for Q113, with an unchanged composite score, at 67.9 out of the maximum 100 points. The country's reward profile remains considerably less attractive than its risk score, reinforcing our view of the country's potential due to a stronger emphasis on the regulatory environment, which we regard as a major factor affecting the business environment for drugmakers, rather than on the basis of real opportunities for higher per-capita drug consumption.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.