DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/3d7798/sweden_pharmaceuti) has announced the addition of the "Sweden Pharmaceuticals and Healthcare Report Q3 2012" report to their offering.
Key reasons for this pessimism include patent expirations and the subsequent entry of copy products, coupled with the government's focus on cost containment through measures that will encourage the consumption of cheaper generic medicines. Nevertheless, population ageing as well as continued growth will continue to promote the use of pharmaceutical products in general and thus continue to attract a variety of industry players.
Headline Expenditure Projections
-Pharmaceuticals: SEK42.84bn (US$6.60bn) in 2011 to an anticipated SEK42.15bn (US$6.18bn) in 2012; -1.6% in local currency terms and -6.3% in US dollar terms. Forecasts slightly lower than in Q212 on account of macroeconomic factors.
-Healthcare: SEK320.50bn (US$49.36bn) in 2011 to an anticipated SEK328.23bn (US$48.12bn) in 2012; +2.4% in local currency terms and -2.5% in US dollar terms. Forecasts slightly lower than in Q212 on account of macroeconomic factors.
-Medical devices: SEK21.04bn (US$3.24bn) in 2011 to an anticipated SEK21.85bn (US$3.20bn) in 2012; +3.9% in local currency terms and -1.1% in US dollar terms. Forecasts slightly lower than in Q212 on account of macroeconomic factors.
Key Trends And Developments
-In February 2012, a week after abandoning its late-stage cholesterol compound eprotirome, Swedish pharmaceutical company Karo Bio dismissed 16 of its 70 employees. The company said it made the decision to cut costs after ending the phase III programme for eprotirome, a thyroid hormone analogue with the potential to reduce bad cholesterol levels in patients already taking statins. The company said that, in combination with the 25 job cuts announced in November 2011, the reduction in staff will lead to annual savings of roughly US$2.6mn.
-Industrial production in Sweden decreased by 7.1% year-on-year (y-o-y) in February 2012, according to the Statistics Sweden data. The largest production decline was seen in the nondurable consumer goods sector, which includes pharmaceuticals and contributes about 20% of the entire index. According to sources, the decrease could be linked to a fall in production in the pharmaceutical industry. For example, AstraZeneca said it has faced production issues because of a new administrative system, which means that the decline could just be temporary.
Companies Mentioned
-Meda
-Swedish Orphan Biovitrum (SOBI) ,
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