The market environment in Spain is extremely challenging, with cost containment measures introduced in 2010–12 contributing to an overall reduction in pharmaceutical spending. The changes are multi-pronged and appear to single out the branded sector, amid misplaced perceptions that Spain's drugs bill is excessive.
Features and benefits
- Analysis of population demographics, economic wealth, disease burden, level of industrialization, and political structure in Spain.
- Insight into the healthcare system, drug regulation, drug pricing, drug reimbursement, and intellectual property position in Spain.
- Evaluation of the generics and biosimilars landscape in terms of regulatory issues, level of penetration, and key players in Spain.
- Overview of key market segment sales and top companies, and R&D and manufacturing infrastructure for the leading pharmaceutical companies in Spain.
On the national level, the development with the largest long-term significance for industry was the creation of the cost-effectiveness committee in August 2011, which has the potential to introduce National Institute for Health and Clinical Excellence (NICE)-type market access barriers for new pharmaceuticals.
The introduction of mandatory prescribing by international non-proprietary name in 2011 has fueled explosive growth of the generics market. Further legal changes forcing pharmacists to dispense the cheapest versions of drugs have supported the generics volume growth in 2012, but pressure on prices has limited the growth of the market by value.
Almost all pharmaceutical companies reported lower revenues in Spain in 2011, although local companies such as Almirall have had some success in reducing their exposure to the home market. In future, diversified companies with broad generic portfolios will be best placed to weather the decline in the branded pharmaceutical market.
Your key questions answered
- How is the regulatory landscape in Spain changing and what is the impact of pricing and reimbursement controls on market access in Spain?
- What are the drivers and resistors of generic and biosimilars uptake in the Spanish pharmaceutical market?
- How have leading pharma companies in Spain been impacted by industry challenges?