New Market Research Report: France Pharmaceuticals & Healthcare Report Q2 2013

From: Fast Market Research, Inc.
Published: Tue Apr 30 2013


In line with our view that France will miss its fiscal deficit target of 3.0% of GDP in 2013 (and we maintain our forecast of 3.5%) we expect the government to engage in more concerted fiscal consolidation over the coming quarters - with a heavy focus on the pharmaceuticals and healthcare sector.

Headline Expenditure Projections

* Pharmaceuticals: EUR34.17bn (US$43.40bn) in 2012 to EUR32.94bn (US$40.19bn) in 2013; -3.6% in local currency terms and -7.4% in US dollar terms.
* Healthcare: EUR239.29bn (US$303.90bn) in 2012 to EUR243.95bn (US$297.61bn) in 2013; +1.9% in local currency terms and -2.1% in US dollar terms.

Risk/Reward Ratings: France remains ranked fourth out of the 10 markets in BMI's Western Europe Pharmaceutical Risk/Reward Ratings (RRR) matrix for Q213, with a 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

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Full Report Details at
- http://www.fastmr.com/prod/589135_france_pharmaceuticals_healthcare_report_q2_2013.aspx?afid=303
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Key Trends And Developments

* Multinational drugmaker Sanofi recorded sales of EUR34.95bn (US$46.86bn), a 4.7% increase on in 2011 on reported basis terms (+0.5% in constant exchange rate (CER) terms). The company's 2012 net income fell by 7.0% in reported basis terms (-12.9% in CER terms), reaching EUR8.18bn (US$10.97bn).
* On January 30 2013, ANSM suspended sales of Bayer's acne pill Diane 35 (and all the generic versions of the drug), after four deaths over the past 25 years were linked to its use. ANSM said it would phase in the suspension over three months to allow women to switch to other treatments. About 315,000 women used Diane 35 or its generic version in France in 2012.

BMI Economic View: France is set to slip from sixth to 10th in the list of the world's biggest economies over our 10-year forecast period, with poor demographics, tighter fiscal policy and less consumer spending set to translate into weaker trend growth. This will have an effect on living standards, while French households are also likely to save more and spend less over the coming decade. That said, France will remain the eurozone's biggest domestic demand-driven economy and as such will continue to act as an important driver of demand for other economies in the bloc. Our relatively low short-term economic risk rating for France reflects the major fiscal challenges that the government will face in the coming 18 months.

About Fast Market Research

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For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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