Research and Markets: Independent Forecasts and Competitive Intelligence of United States' US$307.7bn Pharmaceuticals and Healthcare Industry for Q4 2008

2008-12-01 21:29:02 -

Research and Markets (www.researchandmarkets.com/research/cfaff5/united_states_phar) has announced the addition of the "United States Pharmaceuticals and Healthcare Report Q4 2008" report to their offering.
Our United States Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on United States's pharmaceuticals and healthcare industry.
The US has the largest and most advanced pharmaceutical market in the world. In 2007, pharmaceutical expenditure stood at US$307.7bn. Despite continuing fears for the US economy, due to the impact of the credit crunch and the housing slump, spending should continue to grow, as pharmaceuticals are considered an essential item. In 2008, though, The author expects expenditure to retract slightly in real terms, because of high inflation in the economy. However, over the rest of the forecast period growth should remain comfortably above inflation, with the market reaching a value of US$388.9bn by 2012.
Indeed, the recent financial results posted by Pfizer and Wyeth have highlighted the beneficial effect of a weakened US dollar to US drugmakers with a global presence. Favourable currency exchange rates boosted Pfizer's Q208 revenue by 7%, or approximately US$800mn. Meanwhile, Wyeth has revealed that if it excluded the effect of strengthening foreign currencies, sales for the quarter would have increased by only 1%, compared to the 5% growth seen in the unadjusted figures. It is our view that this phenomenon will continue through to the end of 2008, and then reverse next year.
This quarter has also been busy in terms of merger and acquisition activity. In July, in a deal that could blow the rest of 2008's pharmaceutical acquisitions out of the water, Swiss drugmaker Roche offered to buy the remaining shares US biotechnology giant Genentech for US$43.7bn. Roche " which currently owns a majority 55.9% share in the US firm " offered US$89 per share, an 8.8% premium on closing price. Not to be outdone by its research-focused rivals, Israel's Teva Pharmaceutical Industries has once again demonstrated its desire to expand by acquisition, launching a US$7.46bn bid for US-based generics firm Barr Pharmaceuticals in July 2008.
Companies Mentioned:
- Amgen
- Bristol-Myers Squibb (BMS)
- Eli Lilly
- Genentech
- GlaxoSmithKline (GSK)
- Merck & Co
- Novartis
- Pfizer
For more information visit www.researchandmarkets.com/research/cfaff5/united_states_phar

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