Israel Pharmaceuticals & Healthcare Report Q4 2013 - New Report Available

From: Fast Market Research, Inc.
Published: Mon Oct 07 2013

Israel's pharmaceutical market is a very attractive prospect for multinationals looking to launch innovative medicines. Favourable factors include high per capita spending on medicines, a market size approaching US$2bn, a high proportion of pensioners and a largely urbanised population. However, we caution that poor patent respect and a lack of business transparency remain key threats to company revenues. Additionally, we hold a relatively less optimistic outlook for growth in the market, based on weaker private consumption over the medium term.

Headline Expenditure Projections

* Pharmaceuticals: ILS7.13bn (US$1.85bn) in 2012 to ILS7.39bn (US$2.05bn) in 2013; +3.7% in local currency terms and 11.0% in US dollar terms. Forecast revised downwards due to modifications to historical numbers.
* Healthcare: ILS69.78bn (US$18.11bn) in 2012 to ILS74.52bn (US$20.70bn) in 2013; +6.8% in local currency terms and 14.3% in US dollar terms. Forecast broadly in line with Q213.

Full Report Details at

Risk/Reward Rating: The Israeli pharmaceutical sector boasts a number of key qualities. These include a largely urbanised population with a significant pensioner proportion and a widespread preference for patented medicines. However, we highlight weak intellectual property (IP) laws and long drug approval times as severe hindrances to multinational drugmakers maximising their returns in the market. In BMI's Q413 Pharmaceutical Risk/Reward Ratings matrix, Israel maintains its Q313 score of 59 out of 100, making it the leading country for pharmaceutical investment in the Middle East and Africa.

Key Trends And Developments

July 2013

The US Court of Appeals for the Federal Circuit ruled one of the four patents protecting Copaxone (glatiramer acetate injection) invalid. The invalid patent was due to expire in September 2015, while the other three patents were due to expire in May 2014. The court's judgement maintains Teva's exclusive rights over Copaxone until May 24 2014. The company had filed a lawsuit against Momenta Pharmaceuticals, Sandoz, Mylan Laboratories and Natco Pharmaceuticals for breach of multiple patents for Copaxone.

The Court of Appeals for England and Wales found in favour of Teva, upholding the validity of the patent related to Copaxone (glatiramer acetate injection), The ruling was issued following an appeal brought by Generics (UK), a subsidiary of Mylan, to revoke the patent and also grant a declaration of non-infringement for its purported generic version of Copaxone. In the UK and Wales, the patent is not due to expire until May 2015.

June 2013

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