Report Published: "France Pharmaceuticals & Healthcare Report Q2 2016"

Improving consumer and business indices for the French economy will continue to pose upside risks to the pharmaceuticals and healthcare sector 's ongoing recovery in terms of growth rates. However, supply side factors will continue to weigh negatively on fixed investment rates in the pharmaceutical industry , as labour market structural deficiencies are not expected to recede in the foreseeable future. More broadly, a s pharmaceutical firms seek to increase productivity in a short time frame whilst capping costs, we will likely continue to observe some degree of innovation in business models, such as the open innovation agreement signed in H215 between Sanofi and AstraZeneca This will eventually allow for faster innovation rates through the direct exchange of 21 0,000 compounds from the companies ' respective proprietary compound libraries .

Headline Expenditure Projections

Full Report Details at
- http://www.fastmr.com/prod/1130908_france_pharmaceuticals.aspx?afid=301

Pharmaceuticals: EUR33.46bn (USD36.80bn) in 2015 to EUR33.37bn (USD35.71bn) in 2016; -0.3% in local currency terms and -3.0% in US dollar terms. Forecast broadly in line with last quarter.
Healthcare: EUR253.47bn (USD278.82bn) in 2015 to EUR261.32bn (USD279.61bn) in 2016; +3.1% in local currency terms and 0.3% in US dollar terms. Forecast revised slightly upwards from last quarter.

Risk/Reward Index

In Q216 we have revised upwards France's Risk/Reward Index (RRI) score to 73.1 from 70.5 in the last quarter (out of a maximum 100 points). The score revision was mainly driven by a higher Industry Rewards score. However, France has shifted downwards one position to fourth in terms of market attractiveness to pharmaceutical investors out of 15 markets in Western Europe covered by BMI's RRI matrix, lagging behind score improvements in regional peers. France's score is boosted by the large multi-billion dollar drug market and large pensionable population, but dragged down by modest market expansion.

Latest Updates

In January 2016, a Phase I trial in France lead to one death and five cases of hospitalisation within trial participants, representing the most serious case of a trial failure on European soil in the last 10 years and will cast doubt on the safety of the entire class of fatty acid amide hydrolase inhibitor therapeutics, raise doubts over the safety of current procedures and make recruitment for EU trials more difficult in the short term.

In the same month, Enterome Bioscience entered into collaborations with Takeda Pharmaceutical and Johnson & Johnson, which highlights that the inflammatory bowel disease market is ripe for exploiting. Other firms announcing collaboration agreements suggest that inflammatory bowel disease research in 2016 will benefit from synchronicity.

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