Japan Pharmaceuticals and Healthcare Report Q3 2008

Publication Date	September 2008
Publisher	Business Monitor
Product Type	Report
Pages	90
ISBN Number	not applicable
Product Code	BMI02617

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Summary

Japan has the second largest pharmaceutical market in the world, currently valued at approximately US$76bn. Using BMIs proprietary forecast model, sales of prescription drugs and over-the-counter (OTC) medicines are expected to be US$85.5bn by 2012. The market is characterised by the drug lag, a preference for branded medication, dominance by local firms and an emerging generic drug sector.

Japan's US$5.03bn over-the-counter (OTC) market is on the brink of a paradigm shift. The Ministry of Health, Labour and Welfare (MHLW) plans to allow convenience stores, supermarkets and other retail outlets to sell consumer healthcare products - such cough and cold remedies and analgesics - in April 2009. If this legislation is passed, as BMI expects, we will upgrade the sector forecast significantly.

Pricing and reimbursement in Japan is highly complex and opaque, which results in drugs reaching the market long after regulatory submissions are made. Consequentially, the system has received criticism from both pharmaceutical companies and patient groups, which have to wait for medical breakthroughs.

In an effort to diversify and increase its presence in emerging markets, Japanese drugmaker Daiichi Sankyo purchased a controlling stake in Indian generics firm Ranbaxy Laboratories during Q308.

Daiichi is not the first Japanese drugmaker to adapt to the increasingly tough operating environment. In April 2008, Takeda Pharmaceuticals agreed to pay US$8.8bn for US drugmaker Millennium Pharmaceuticals. The transaction gave the Japanese company access to the blood cancer drug Velcade (bortezomib), which is forecast to produce US$345mn in sales during 2008 a 25% increase on the previous year. This deal was followed by Eisai's purchase of cancer specialist MGI Pharma for US$3.9bn in Q407.

Certain industry stakeholders criticised the plan proposed by the Federation of Pharmaceutical Manufacturers Association of Japan (FPMAJ) in July 2008 to update the prescription drug pricing procedures. Not unsurprisingly, the drugmakers are seeking to charge higher prices for longer periods as well as secure more premiums for improving clinical outcomes. In light of the global trend for cost containment in developed states, BMI does not expect the changes to be implemented.

Content

Executive Summary
- Japan Pharmaceuticals And Healthcare Industry SWOT
- Japan Political SWOT
- Japan Economic SWOT
Pharmaceutical Business Environment Ratings
- Table: Asia Pacific Pharmaceutical Business Environment Rankings, Q308
- Limits Of Potential Returns
- Risks To Realisation Of Returns
Japan Market Summary
Regulatory Regime
- Recent Regulatory Developments
- Medical Device Regulations
- Intellectual Property Developments
- Pricing And Reimbursement System
- Table: Reimbursement Categories And Rates
- Recent Pricing And Reimbursement Developments
- Other Regulatory Issues
- Table: Concerns Of Pharmaceutical Associations
Industry Trends And Developments
- Epidemiology
- Table: Mortality By Cause In Japan
- Healthcare Sector
- Healthcare Sector Finance Issues
- Healthcare Reforms
- International Collaboration
- International Reaction
- Domestic Company Activity
- Foreign Generic Sector
- Table: Timeline: Indian Manufacturers In Japan, 2005-2007
- Multinational Sector Developments
- Research And Development
Industry Forecast Scenario
- Overall Market Forecast
- Table: Japanese Ethical Market Leading Therapeutic Classes, FY05/06
- Table: Japans Drug Market Indicators
- Key Growth Factors Industry
- Table: Japans Healthcare Market
- Macroeconomic Forecast Scenario
- Table: Japan - Macroeconomic Forecasts
- Prescription Market Forecast
- Table: Prescription Drug Market Indicators (US$mn unless otherwise stated)
- OTC Market Forecast
- Table OTC Market Forecasts
- Generics Market Forecast
- Generics Market Forecast
- Table: Generics Market Trends
- Patented Medicines Market Forecast
- Table: Patented Medicines Market
- Export/Import Forecasts
- Table: Export/Import Trends (US$mn)
- Other Healthcare Data And Forecasts
- Table: Socio-Demographic Indicators
- Key Risks To BMIs Forecast Scenario
Competitive Landscape
- Table: Japanese Ethical Market Sales Value (FY2006)
Company Profiles
- Leading Foreign Manufacturers
- Pfizer
- Sanofi-Aventis
- Merck & Co (Banyu)
- Novartis
- GlaxoSmithKline (GSK)
- AstraZeneca
- Indigenous Manufacturers
- Takeda
- Astellas
- Eisai
- Daiichi-Sankyo
- Sawai Pharmaceutical
BMI Forecast Modelling
- How We Generate Our Pharmaceutical Industry Forecasts
- Pharmaceutical Industry
- Pharmaceutical Business Environment Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components
- Sources

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Product features / use

Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted