Price: $ 1295
BMI View: Multinational drugmakers with higher exposure to the US pharmaceutical market will outperform rivals with established presences in Western Europe and emerging markets. The former region is under pressure from austerity-induced medicine price cuts, and many markets will experience significant contractions in 2013. Meanwhile, the latter is seeing currency weakness and deepening industry-specific challenges, such as the bribery/corruption scandal in China. The US remains highly attractive due to the willingness of payers to reimburse patients for high-value patented pharmaceuticals. Headline Expenditure Projections ? Pharmaceuticals: US$343.0bn in 2012 to US$342.6bn in 2013; -0.1% growth in local currency terms. Forecast slightly down from Q313 due to macroeconomic factors. ? He ...
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