The Pharmaceutical Market: Spain

Summary

In July 2006, Spain enforced a new pharmaceutical law. Its development continues to be polemical after one year, as many industry representatives feel that the government has pushed a law without consensus. So far, the pharmaceutical law has approved four measures, concerning galenical innovations, the Reference Price System (RPS), specific drug approvals (visados) and drugs that cannot be substituted. Other measures that are being prepared relate to medicines of human use, medicines of veterinary use, prescriptions, pharmacovigilance and traceability.

The Spanish pharmaceutical market is the fifth largest in the EU-27, valued at US$24.8 billion at retail prices in 2007. The pharmacy sector represented 76.2% of the market at manufacturers' prices in 2006, the remaining 23.8% being hospital sales. Prescription-only medicines accounted for 96.4% of the pharmacy sector in 2006, the remaining being OTC. Pharmaceutical production increased by a double-figure in 2005, reaching nearly US$14.0 billion. Recent measures introduced by the government have resulted in slower pharmaceutical R&D growth; R&D investments amounted to 1.0 billion in 2006.

Almirall and Esteve are the leading domestic pharmaceutical producers, with sales of around US$1.0 billion. In October 2007, Almirall entered an agreement to acquire an eight-product portfolio from the UK's Shire Pharmaceuticals. This followed Almirall's acquisition of the German producer Hermal in September 2007. Esteve continues to enhance its market presence in China. Almirall and Esteve's R&D investments have risen sharply in recent years. Almirall opened a new state-of-the-art R&D centre in Barcelona in May 2006, with investments valued at US$151.0 million.

Espicom's in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

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