United Kingdom Pharmaceuticals & Healthcare Report Q3 2016 - New Market Research Report

The rate of investment in pharmaceutical and biomedicine R&D in the UK will remain significantly high. Meanwhile, our earlier view on upside risks to healthcare spending has started to materialise, with the latest data leading us to revise upwards the UK healthcare market forecast, in part owing to an increased health budget. However, the uncertainty following the Brexit vote undermines the outlook and prospects for the sector.

Headline Expenditure Projections

Pharmaceuticals: GBP26.20bn (USD40.04bn) in 2015 to GBP26.79bn (USD38.28bn) in 2016; +2.3% in local currency terms and -4.4% in US dollar terms. Forecast in line with last quarter.

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Healthcare: GBP157.77bn (USD241.10bn) in 2015 to GBP162.26bn (USD231.80bn) in 2016; +2.9% in local currency terms and -3.9% in US dollar terms. Forecast revised upwards from last quarter.

Risk/Reward Index

In Q316 we have revised downwards UK's Risk/Rewards Index (RRI) score to 76.5 from 77.7 previously (out of 100). The UK is now ranked as the second most attractive market to pharmaceutical investors in the Western Europe region, standing slightly below Germany (76.6) and above Austria (73.8). The UK's score is boosted by its multi-billion dollar drug market and relatively high sector value growth.

Latest Updates

In June 2016, GlaxoSmithKline, Fondazione Telethon and Ospedale San Raffaele gained European Commission approval for Strimvelis (autologous CD34+ cells transduced to express ADA), the first ex-vivo stem cell gene therapy to treat patients with severe combined immunodeficiency due to adenosine deaminase deficiency (ADA-SCID). Strimvelis is the first corrective gene therapy for children to be awarded regulatory approval anywhere in the world, while the underlying technology has the potential to produce a new generation of therapies for genetic disorders.

Speaking at the G7 summit in Japan in the same month, David Cameron noted that as a first step in addressing growing Antimicrobial Resistance (AMR), the UK has pledged to cut inappropriate prescribing of antibiotics by half by 2020, as well as making available funds on AMR R&D and the tracking of resistance in developing countries.

Also in June, the Cell and Gene Therapy Catapult and University of Aberdeen, UK, have set up Islexa, a new company developing a novel technology to produce laboratory grown islets, the organoids responsible for insulin production, which has the potential to bring the option of an islet transplant to a larger population of patients with Type I diabetes.

In April 2016, the British Generic Manufacturers Association (BGMA) formally launched a new industry body, the British Biosimilars Association (BBA), which is evidence that the UK biosimilar market is gaining traction.

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