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Now Available: Jordan Pharmaceuticals & Healthcare Report Q2 2014

New Healthcare research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 03/11/2014 -- Jordan is a moderately attractive pharmaceutical market in the Middle East and Africa (MEA) region. However, despite a number of positive factors, we highlight current cutbacks in government spending, which have directly impacted the pharmaceutical market (medicine price cuts of 10-74% in 2013), as a key concern to drugmakers. We warn that additional government measures could include a slowdown or reduction in medicines import growth, which, given the country's reliance on high-value medicines, will negatively impact multinationals that export to the country.

Headline Expenditure Projections

- Pharmaceuticals: JOD641mn (US$903mn) in 2013 to JOD675mn (US$951mn) in 2014; +5.4% in local currency terms and +5.3% in US dollar terms. Forecast revised downwards due to modifications to historical numbers, macroeconomic factors and anecdotal evidence supporting medicine price cuts.
- Healthcare: JOD2.10bn (US$2.96bn) in 2013 to JOD2.30bn (US$3.24bn) in 2014; +9.5% in local currency terms and +9.5% in US dollar terms. Forecasts revised downwards due to macroeconomic factors.

View Full Report Details and Table of Contents

Risk/Reward Rating: Our Risk/Reward assessment matrix ranks Jordan in 10th position, out of 30 markets surveyed in the Middle East and Africa (MEA) region in Q214 with a score of 48.6 out of 100. However, generally speaking, although Jordan offers a relatively favourable investment environment from the point of view of risks, its small population size (of about 7mn) and the possibility of political unrest will continue to pose constraints in terms of potential pharmaceutical market growth.

Key Trends And Developments

November

Hikma Pharmaceuticals announced it had signed a long-term commercial supply contract with Unilife Corporation ('Unilife') for the use of Unifill prefilled syringes with a range of generic injectable drugs. Hikma will pay a total of US$40mn in various payments throughout 2014 and 2015 for the exclusive global rights to use Unilife's Unifill products with a selection of Hikma's generic injectable products. Hikma has selected an initial list of around 20 of its generic injectable products to be used with Unifill products. Unilife will commence product sales to Hikma in early 2014.

The Korea International Cooperation Agency's (KOICA) Jordanian unit is set to launch several projects in the country in 2014 to support its development, according to Han Young-tae, KOICA's chief representative in Jordan. KOICA will provide support in a number of fields, such as education, energy, governance, culture and health in Jordan, Han added. The Korean agency will launch four new comprehensive healthcare centres across the country in 2014 and a special school for deaf students in Marka, which will support 400 students.

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