DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/f12058/israel_pharmaceuti) has announced the addition of the "Israel Pharmaceuticals and Healthcare Report Q4 2011" report to their offering.
BMI View: Both regionally and globally speaking, Israel boasts high per-capita spending on pharmaceuticals, although the overall market size is limited by the country's modest population of under 8mn. Israel also has well-developed pharmaceutical (focused on generic drugs) and medical device manufacturing industries, which largely export to Europe and North American markets rather than to its neighbours, due to political considerations. However, multinationals operating in Israel have been critical of the country's intellectual property (IP) environment.
Key Trends & Developments
- In Q211, despite spending US$5.2bn on mergers and acquisitions (M&A) in 2010, leading Israeli drugmaker Teva Pharmaceuticals only reported an 11% increase in year-on-year (y-o-y) net sales to US$4.21bn and a 27.8% fall in net income over the same time period to US$576mn. Teva's Q211 results are unimpressive but expected given the company's poor Q111 performance. However, BMI remains positive about the company's long-term future as austerity measures and rational prescriptions increase generic drugs sales in developed states and the company's revenues from Europe continue to grow rapidly.
- In July 2011, shareholders of US-based biopharmaceutical company Cephalon approved Teva's US$6.8bn proposed acquisition. The deal will add Cephalon's cancer painkiller Fentora(fentanyl buccal), sleep disorder drug Provigil (modafinil) and chemotherapy drug Treanda (bendamustine) to Teva's branded business. The deal, under review by the European Commission and the US Federal Trade Commission, is likely to be completed by end-2011. Teva has also completed the acquisition of Taiyo Pharmaceutical Industry in a US$943mn deal.
- Teva Pharmaceutical Industries
- Perrigo (Agis Industries)
- Neopharm Group
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Research and Markets
Laura Wood, Senior Manager,
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
KEYWORDS: Middle East Israel
INDUSTRY KEYWORDS: Health Pharmaceutical