The document provides an outlook on the global bio-pharmaceutical sector in 2011. It discusses factors that are positive for the sector such as increased R&D spending and novel drug approvals. Challenges mentioned include regulatory hurdles, biosimilars, and patent expiries. The document analyzes investment opportunities in areas like HCV, autoimmune diseases, and rare genetic disorders. It also examines issues facing mature biotechs and provides a valuation methodology.
Future Pharma Trends - Long-term opportunities tempered by short-term challengesscottosur
An overview of the key trends shaping the pharmaceutical industry today, and those that are set to play a central role in the future, as companies transition towards a new business model: Pharma 2.0.
Provides key strategies and trends shaping the future of the pharmaceutical industry. Examines the impact of the Obama administration on US healthcare, and the implications for Pharma. Assesses the implications of the current economic and financial situation on healthcare. Analyzes key growth drivers and resistors set to shape Pharma\'s future.
Contact me at sosur@datamonitor.com to learn more!
The document provides biographies of three executives from Reimbursement Intelligence: Rhonda Greenapple, Julie Schachter, and Maxim Miller. It then summarizes an article about challenges faced by the pharmaceutical industry during product development and strategies to optimize commercial opportunities. The summary identifies four critical steps in product development covered in the article: proof of concept, opportunity identification, pre-launch planning, and post-launch/life cycle management. It emphasizes the importance of understanding reimbursement and health outcomes at each step to maximize access and commercial success of new products.
The document discusses emerging business and operational models in the pharmaceutical industry. It notes that the traditional vertically integrated model is shifting to a more fragmented model. It also discusses factors driving changes like rising costs and competition. The document analyzes current blockbuster and niche models and potential future models involving more specialization. It proposes a "progressive drug development model" to reduce risks and costs through targeted development.
This presentation was made in Pharmasource Munich 2012 and covers the aspects of Pharma API and Intermediate sourcing. The presentation covers the following sub topics
1. How the changing structure of the Pharma industry is affecting ingredients sourcing
2. Are India and China still the places to go ( and for how long) – does the Cost - Benefit stack –up?
3. Supplier Innovation and Potential gains
4. Analyzing the Asian Pharma market –
a generics hub with a competitive skill base
i may be contacted at gurmeetsingh144@hotmail.com
Market access the challenges for medical devices Amy Morgan
With increased incidences of reimbursement rejections by payers and a growing usage of pricing and reimbursement tools market access is becoming increasingly restricted…
The pharmaceutical industry is shifting away from the traditional blockbuster drug model towards new business models. Long term strategies include adopting an integrated model that bundles drugs, healthcare services, and medical devices. Companies are also focusing on personalized drugs, disease management, and partnerships with biotech firms. Short term strategies involve semi-blockbuster portfolios, pre- and post-patent competition, and network-based research models relying more on outsourcing.
Corporate Strategy Assignment - The Global Pharmaceutical IndustryAmany Hamza
This report provides an analytical strategic review of the global pharmaceutical industry. In the first part, it covers the external environment of the global pharmaceutical industry using PESTEL analysis and outlines the Key drivers for change. It then uses the Five Forces analysis to demonstrate the industry attractiveness. Secondly, we illustrate the strategic capabilities of Novartis using the Value chain. Finally, we attempt to highlights its financial performance, position and culture.
This document discusses trends in emerging pharmaceutical markets, focusing on Brazil, Russia, India, and China. It provides an overview of the current healthcare systems and pharmaceutical markets in each country. Some key points discussed include growth patterns in developed markets flattening while emerging markets see significant growth potential. The document also outlines future trends in each country such as increasing regulation, emphasis on generics, and strategies pharmaceutical companies can employ to succeed in these emerging markets.
Future Pharma Trends - Long-term opportunities tempered by short-term challengesscottosur
An overview of the key trends shaping the pharmaceutical industry today, and those that are set to play a central role in the future, as companies transition towards a new business model: Pharma 2.0.
Provides key strategies and trends shaping the future of the pharmaceutical industry. Examines the impact of the Obama administration on US healthcare, and the implications for Pharma. Assesses the implications of the current economic and financial situation on healthcare. Analyzes key growth drivers and resistors set to shape Pharma\'s future.
Contact me at sosur@datamonitor.com to learn more!
The document provides biographies of three executives from Reimbursement Intelligence: Rhonda Greenapple, Julie Schachter, and Maxim Miller. It then summarizes an article about challenges faced by the pharmaceutical industry during product development and strategies to optimize commercial opportunities. The summary identifies four critical steps in product development covered in the article: proof of concept, opportunity identification, pre-launch planning, and post-launch/life cycle management. It emphasizes the importance of understanding reimbursement and health outcomes at each step to maximize access and commercial success of new products.
The document discusses emerging business and operational models in the pharmaceutical industry. It notes that the traditional vertically integrated model is shifting to a more fragmented model. It also discusses factors driving changes like rising costs and competition. The document analyzes current blockbuster and niche models and potential future models involving more specialization. It proposes a "progressive drug development model" to reduce risks and costs through targeted development.
This presentation was made in Pharmasource Munich 2012 and covers the aspects of Pharma API and Intermediate sourcing. The presentation covers the following sub topics
1. How the changing structure of the Pharma industry is affecting ingredients sourcing
2. Are India and China still the places to go ( and for how long) – does the Cost - Benefit stack –up?
3. Supplier Innovation and Potential gains
4. Analyzing the Asian Pharma market –
a generics hub with a competitive skill base
i may be contacted at gurmeetsingh144@hotmail.com
Market access the challenges for medical devices Amy Morgan
With increased incidences of reimbursement rejections by payers and a growing usage of pricing and reimbursement tools market access is becoming increasingly restricted…
The pharmaceutical industry is shifting away from the traditional blockbuster drug model towards new business models. Long term strategies include adopting an integrated model that bundles drugs, healthcare services, and medical devices. Companies are also focusing on personalized drugs, disease management, and partnerships with biotech firms. Short term strategies involve semi-blockbuster portfolios, pre- and post-patent competition, and network-based research models relying more on outsourcing.
Corporate Strategy Assignment - The Global Pharmaceutical IndustryAmany Hamza
This report provides an analytical strategic review of the global pharmaceutical industry. In the first part, it covers the external environment of the global pharmaceutical industry using PESTEL analysis and outlines the Key drivers for change. It then uses the Five Forces analysis to demonstrate the industry attractiveness. Secondly, we illustrate the strategic capabilities of Novartis using the Value chain. Finally, we attempt to highlights its financial performance, position and culture.
This document discusses trends in emerging pharmaceutical markets, focusing on Brazil, Russia, India, and China. It provides an overview of the current healthcare systems and pharmaceutical markets in each country. Some key points discussed include growth patterns in developed markets flattening while emerging markets see significant growth potential. The document also outlines future trends in each country such as increasing regulation, emphasis on generics, and strategies pharmaceutical companies can employ to succeed in these emerging markets.
Business model canvas-Hetero Healthcare Ltd(Pharmaceutical Company)Asgar Hussain Inamdar
Hetero Healthcare is an Indian pharmaceutical company founded in 1993 with a vision of developing cost-effective, high quality medicines through R&D and manufacturing. Its key resources include intellectual property, scientists, and facilities worldwide. Key activities involve R&D partnerships, product development, and commercialization. Hetero partners with medical institutions and companies globally. Its value proposition is a leading position in India delivering innovative, affordable treatments to patients in over 100 countries.
The document discusses various business models in the life science industry. It describes models such as the fully integrated pharma company, virtually integrated pharma company, research model, platform model, no research development only model, re-indication/recovery model, combination drugs model, and drug delivery model. Each model is defined by its value proposition, value chain structure, and revenue generation approach. The document provides examples of companies that have utilized each business model.
Galenica Group pursues a strategy of long-term growth through diversification across complementary healthcare sectors including pharma, logistics, retail, and healthcare information. This creates synergies and distributes risk effectively. The analysis shows Galenica outperforms pure players in these sectors by 37% due to synergies from operating across the value chain and leveraging strategic resources like bargaining power, reputation, and healthcare market knowledge. Recommendations include continuing international expansion in pharma and logistics to control more of the value chain abroad, strengthening national positions, and developing through strategic alliances initially before potential acquisitions to gain control while managing risks and costs. Corporate governance is currently effective but succession planning is needed as the CEO
A presentation I did for my Leadership and Special Topics in Pharmaceutical Marketing and Management class on social media. I completed this project with Tae Lee.
The U.S. Biopharmaceutical Industry (2014): Perspectives on Future Growth and...PhRMA
The capability to innovate is fast becoming the most important determinant of economic growth and a nation’s ability to compete and prosper in the 21st century global knowledge-based economy.
The innovative biopharmaceutical industry stands out among high-value knowledge-based industries, including aerospace, automotive, and semiconductors, as a driver for future U.S. economic growth. Aging populations throughout the world and rising purchasing power for medical advances among emerging economies are expected to drive increased demand for prescription medicines in the coming years, providing opportunities to increase production and exports.
Pharmaceutical Products of the Future: 50-Company Biopharma and Traditional P...ReportsnReports
This 220-page report from Kalorama Information analyzes the pharmaceutical pipelines of the top 50 pharmaceutical companies to provide estimates and forecasts of the biopharmaceutical market through 2016. The report covers each company's financial performance, research and development spending, and late-stage drug pipeline. It also examines key issues and trends in the industry, such as biotechnology drug development, mergers and acquisitions, and the growing role of biopharmaceuticals.
Transitioning a medicine from prescription-only to over-the-counter status is big business—and the Emerging Markets hold the key to sustained growth for OTC marketers. But manufacturers looking at such opportunities for growth have number of questions in mind. This article clarifies many such issues and challenges of the stakeholders and typical segments to encash on.
for more information log on to www.interlinkconsultancy.com
Introduction to the pharmaceutical market and practiceWayne Wei
As a lecturer for "Basic Principles of Drug Discovery and Development" for Department of Life Sciences, National Central of University for two years.
In charge of "Introduction to the pharmaceutical market and practice".
Market Access - Getting ready for Personalized Medicine!executiveinsight
A presentation outlining the potential gains, pitfalls and strategies needed to realize the value in Personalized Medicine (Companion Diagnostics, Therapies).
Market Access, Pricing and Reimbursement streamlinedWang-yee Liu
This document provides an agenda for the "Market Access, Pricing and Reimbursement 2016 Europe" conference taking place on June 9-10, 2016 in London. The agenda includes presentations and speakers on topics related to market access strategies, challenges in pharmaceutical pricing and reimbursement, and maximizing access in emerging markets. Key industry experts scheduled to speak include leaders from pharmaceutical companies such as Celgene, Sanofi, Alcon, and Daiichi Sankyo. The conference aims to provide a platform for stakeholders to discuss macroeconomic factors, policies, and drivers influencing the pharmaceutical industry.
Briefing based on the key findings of my research on the Global Generic Pharmaceuticals Market 2010, covering the developed markets like the U.S, Germany, UK, France, Italy and Spain as well as the emerging markets such as India and China.
This document provides information about the "Market Access, Pricing and Reimbursement 2016 Europe" conference, including details about its location, dates, sponsors, exhibitors, featured speakers and topics. Some of the key points mentioned are that the conference will take place from June 9-10, 2016 in London and will provide a platform for stakeholders in the pharmaceutical industry to discuss challenges and opportunities in areas like market access strategies, pricing and reimbursement trends, emerging markets, and use of real-world evidence. The document also lists over 20 industry experts who will be speaking, along with their titles and companies.
This document provides an overview of Genentech, a biotechnology company, in 3 sections:
1. It outlines Genentech's origins in the 1970s through scientific innovations in genetic engineering and being the first to clone human proteins in bacteria.
2. It describes Genentech's leadership in the biotherapeutics industry through the 1990s-2000s via FDA approvals, research capabilities, manufacturing expertise, and strategic partnerships.
3. It analyzes Genentech's value-based management strategies including clear goals, emphasis on scientific excellence, skilled personnel, and streamlined systems that have led to consistent financial outperformance of industry averages.
This document discusses the evolving global biosimilars landscape and opportunities. It notes that after slow initial growth, biosimilars are poised for accelerated growth over the next decade due to expiring biologic drug patents, new US legislation, and payer pressure to reduce costs. By 2015, biosimilars sales are projected to reach $1.9-2.6 billion, up significantly from 2011 levels. Key drivers include major biologics like Herceptin, Enbrel and Humalog losing patent protection and increased focus on areas like oncology, diabetes and rheumatoid arthritis. A diverse range of competitors from generic drugmakers to large biopharmaceutical companies are pursuing biosimilar programs. However, realization of
The document summarizes the global pharmaceutical industry, its history and competitive environment. It describes how the industry has evolved from the 1950s with new drug development and increased regulation. Barriers to entry into the industry are high and increasing due to lengthy development times and large R&D costs. The future of the industry is analyzed as facing continued pressure from generics, healthcare cost controls and industry consolidation into fewer large global companies focused on specific drug franchises.
Successful market / customer access is a primary objective in healthcare marketing. This presentation provides the insight to successfully position, price and promote your pharmaceutical, medical device or clinical service in leading healthcare market segments.
This presentation is from www.healthcaremedicalpharmaceuticaldirectory.com, no subscription is required. Please visit us to see more presentations about the latest marketing trends in the healthcare industry.
John Baresky Healthcare Marketing Leader, Pharmaceutical Marketing, Digital Marketing Strategy, Content Marketing Strategy, Market Access Strategy, Healthcare RPA Software Marketing Strategy
www.healthcaremedicalpharmaceuticaldirectory.com
John G. Baresky
https://www.linkedin.com/in/johngbaresky
#baresky
This document discusses the state of the biosimilars market and provides insights from a conference on biosimilars. It finds that while biosimilars were initially expected to capture more of the market, positive developments are emerging. Biosimilar approvals and guidelines in regions like Europe and the US could help unlock the market's potential. However, regulatory frameworks remain fragmented globally and biosimilar adoption varies across therapies, countries, and regions. Emerging markets in particular represent opportunities for future biosimilar growth to expand access to biologics.
The pharmaceutical industry in Europe is expected to grow at an annual rate of 3.2% from 2015-2022, driven by new innovations emerging across therapy areas like oncology and immunology. While oncology drugs will account for much of the growth, the top-selling drug in Europe in 2022 is predicted to be Xarelto rather than a cancer drug. Five of the top 10 drugs will treat cancer. However, funding all these new high-cost therapies may challenge healthcare systems. Pharmaceutical companies and payers will need to collaborate more closely on new funding models to support continued innovation.
This document analyzes changes in the global pharmaceutical industry using the PESTEL framework. It discusses factors like increased political and regulatory hurdles, economic growth opportunities in biologics, social emphasis on health and direct-to-consumer advertising, technological focus on R&D and the long drug development pipeline, environmental risks of off-label promotion and lack of trust in companies, and the various legal bodies governing the industry. The key challenges identified are the long time required for new drug development, increased competition from companies in other regions, and damage to supply from companies prioritizing profits over safety. The conclusion calls for a faster drug development model to better meet medical needs and compete in the industry.
This document analyzes and dispels five common myths about the drug delivery industry. It argues that drug delivery has delivered many new products, the market is growing not declining, the business model can be sustainable, product line extensions using drug delivery approaches are effective strategies, and drug delivery companies offer diverse technologies, not just similar controlled release solutions. The drug delivery industry plays a key role in addressing challenges in pharma by developing improved treatment options.
This document provides a global perspective on the evolving biosimilars landscape and market. It finds that after slow initial growth, the biosimilars market is poised for accelerated expansion between 2015-2020 as major biologics lose patent protection, US legislation establishes a regulatory pathway, and payers increase adoption to control costs. The market could reach $1.9-2.6 billion by 2015, up from $378 million currently, with the largest opportunities in oncology, diabetes, and rheumatoid arthritis. Key drivers include cost pressures on healthcare systems and the availability of lower-cost biosimilar alternatives to expensive biologic drugs. However, significant barriers remain due to varying regulations worldwide and resistance from biologics manufacturers.
This document provides an overview of research methodology for studying the Indian pharmaceutical market and the effect of healthcare products. The objectives are to understand the market contribution of healthcare products and evaluate consumers' and doctors' attitudes towards these products. Secondary research will gather data from company sources, while primary research will involve interviews with chemists, doctors, and consumers. The study aims to benefit researchers, the sponsoring organization, and colleagues by providing insights into opportunities in the domestic pharmaceutical market.
Business model canvas-Hetero Healthcare Ltd(Pharmaceutical Company)Asgar Hussain Inamdar
Hetero Healthcare is an Indian pharmaceutical company founded in 1993 with a vision of developing cost-effective, high quality medicines through R&D and manufacturing. Its key resources include intellectual property, scientists, and facilities worldwide. Key activities involve R&D partnerships, product development, and commercialization. Hetero partners with medical institutions and companies globally. Its value proposition is a leading position in India delivering innovative, affordable treatments to patients in over 100 countries.
The document discusses various business models in the life science industry. It describes models such as the fully integrated pharma company, virtually integrated pharma company, research model, platform model, no research development only model, re-indication/recovery model, combination drugs model, and drug delivery model. Each model is defined by its value proposition, value chain structure, and revenue generation approach. The document provides examples of companies that have utilized each business model.
Galenica Group pursues a strategy of long-term growth through diversification across complementary healthcare sectors including pharma, logistics, retail, and healthcare information. This creates synergies and distributes risk effectively. The analysis shows Galenica outperforms pure players in these sectors by 37% due to synergies from operating across the value chain and leveraging strategic resources like bargaining power, reputation, and healthcare market knowledge. Recommendations include continuing international expansion in pharma and logistics to control more of the value chain abroad, strengthening national positions, and developing through strategic alliances initially before potential acquisitions to gain control while managing risks and costs. Corporate governance is currently effective but succession planning is needed as the CEO
A presentation I did for my Leadership and Special Topics in Pharmaceutical Marketing and Management class on social media. I completed this project with Tae Lee.
The U.S. Biopharmaceutical Industry (2014): Perspectives on Future Growth and...PhRMA
The capability to innovate is fast becoming the most important determinant of economic growth and a nation’s ability to compete and prosper in the 21st century global knowledge-based economy.
The innovative biopharmaceutical industry stands out among high-value knowledge-based industries, including aerospace, automotive, and semiconductors, as a driver for future U.S. economic growth. Aging populations throughout the world and rising purchasing power for medical advances among emerging economies are expected to drive increased demand for prescription medicines in the coming years, providing opportunities to increase production and exports.
Pharmaceutical Products of the Future: 50-Company Biopharma and Traditional P...ReportsnReports
This 220-page report from Kalorama Information analyzes the pharmaceutical pipelines of the top 50 pharmaceutical companies to provide estimates and forecasts of the biopharmaceutical market through 2016. The report covers each company's financial performance, research and development spending, and late-stage drug pipeline. It also examines key issues and trends in the industry, such as biotechnology drug development, mergers and acquisitions, and the growing role of biopharmaceuticals.
Transitioning a medicine from prescription-only to over-the-counter status is big business—and the Emerging Markets hold the key to sustained growth for OTC marketers. But manufacturers looking at such opportunities for growth have number of questions in mind. This article clarifies many such issues and challenges of the stakeholders and typical segments to encash on.
for more information log on to www.interlinkconsultancy.com
Introduction to the pharmaceutical market and practiceWayne Wei
As a lecturer for "Basic Principles of Drug Discovery and Development" for Department of Life Sciences, National Central of University for two years.
In charge of "Introduction to the pharmaceutical market and practice".
Market Access - Getting ready for Personalized Medicine!executiveinsight
A presentation outlining the potential gains, pitfalls and strategies needed to realize the value in Personalized Medicine (Companion Diagnostics, Therapies).
Market Access, Pricing and Reimbursement streamlinedWang-yee Liu
This document provides an agenda for the "Market Access, Pricing and Reimbursement 2016 Europe" conference taking place on June 9-10, 2016 in London. The agenda includes presentations and speakers on topics related to market access strategies, challenges in pharmaceutical pricing and reimbursement, and maximizing access in emerging markets. Key industry experts scheduled to speak include leaders from pharmaceutical companies such as Celgene, Sanofi, Alcon, and Daiichi Sankyo. The conference aims to provide a platform for stakeholders to discuss macroeconomic factors, policies, and drivers influencing the pharmaceutical industry.
Briefing based on the key findings of my research on the Global Generic Pharmaceuticals Market 2010, covering the developed markets like the U.S, Germany, UK, France, Italy and Spain as well as the emerging markets such as India and China.
This document provides information about the "Market Access, Pricing and Reimbursement 2016 Europe" conference, including details about its location, dates, sponsors, exhibitors, featured speakers and topics. Some of the key points mentioned are that the conference will take place from June 9-10, 2016 in London and will provide a platform for stakeholders in the pharmaceutical industry to discuss challenges and opportunities in areas like market access strategies, pricing and reimbursement trends, emerging markets, and use of real-world evidence. The document also lists over 20 industry experts who will be speaking, along with their titles and companies.
This document provides an overview of Genentech, a biotechnology company, in 3 sections:
1. It outlines Genentech's origins in the 1970s through scientific innovations in genetic engineering and being the first to clone human proteins in bacteria.
2. It describes Genentech's leadership in the biotherapeutics industry through the 1990s-2000s via FDA approvals, research capabilities, manufacturing expertise, and strategic partnerships.
3. It analyzes Genentech's value-based management strategies including clear goals, emphasis on scientific excellence, skilled personnel, and streamlined systems that have led to consistent financial outperformance of industry averages.
This document discusses the evolving global biosimilars landscape and opportunities. It notes that after slow initial growth, biosimilars are poised for accelerated growth over the next decade due to expiring biologic drug patents, new US legislation, and payer pressure to reduce costs. By 2015, biosimilars sales are projected to reach $1.9-2.6 billion, up significantly from 2011 levels. Key drivers include major biologics like Herceptin, Enbrel and Humalog losing patent protection and increased focus on areas like oncology, diabetes and rheumatoid arthritis. A diverse range of competitors from generic drugmakers to large biopharmaceutical companies are pursuing biosimilar programs. However, realization of
The document summarizes the global pharmaceutical industry, its history and competitive environment. It describes how the industry has evolved from the 1950s with new drug development and increased regulation. Barriers to entry into the industry are high and increasing due to lengthy development times and large R&D costs. The future of the industry is analyzed as facing continued pressure from generics, healthcare cost controls and industry consolidation into fewer large global companies focused on specific drug franchises.
Successful market / customer access is a primary objective in healthcare marketing. This presentation provides the insight to successfully position, price and promote your pharmaceutical, medical device or clinical service in leading healthcare market segments.
This presentation is from www.healthcaremedicalpharmaceuticaldirectory.com, no subscription is required. Please visit us to see more presentations about the latest marketing trends in the healthcare industry.
John Baresky Healthcare Marketing Leader, Pharmaceutical Marketing, Digital Marketing Strategy, Content Marketing Strategy, Market Access Strategy, Healthcare RPA Software Marketing Strategy
www.healthcaremedicalpharmaceuticaldirectory.com
John G. Baresky
https://www.linkedin.com/in/johngbaresky
#baresky
This document discusses the state of the biosimilars market and provides insights from a conference on biosimilars. It finds that while biosimilars were initially expected to capture more of the market, positive developments are emerging. Biosimilar approvals and guidelines in regions like Europe and the US could help unlock the market's potential. However, regulatory frameworks remain fragmented globally and biosimilar adoption varies across therapies, countries, and regions. Emerging markets in particular represent opportunities for future biosimilar growth to expand access to biologics.
The pharmaceutical industry in Europe is expected to grow at an annual rate of 3.2% from 2015-2022, driven by new innovations emerging across therapy areas like oncology and immunology. While oncology drugs will account for much of the growth, the top-selling drug in Europe in 2022 is predicted to be Xarelto rather than a cancer drug. Five of the top 10 drugs will treat cancer. However, funding all these new high-cost therapies may challenge healthcare systems. Pharmaceutical companies and payers will need to collaborate more closely on new funding models to support continued innovation.
This document analyzes changes in the global pharmaceutical industry using the PESTEL framework. It discusses factors like increased political and regulatory hurdles, economic growth opportunities in biologics, social emphasis on health and direct-to-consumer advertising, technological focus on R&D and the long drug development pipeline, environmental risks of off-label promotion and lack of trust in companies, and the various legal bodies governing the industry. The key challenges identified are the long time required for new drug development, increased competition from companies in other regions, and damage to supply from companies prioritizing profits over safety. The conclusion calls for a faster drug development model to better meet medical needs and compete in the industry.
This document analyzes and dispels five common myths about the drug delivery industry. It argues that drug delivery has delivered many new products, the market is growing not declining, the business model can be sustainable, product line extensions using drug delivery approaches are effective strategies, and drug delivery companies offer diverse technologies, not just similar controlled release solutions. The drug delivery industry plays a key role in addressing challenges in pharma by developing improved treatment options.
This document provides a global perspective on the evolving biosimilars landscape and market. It finds that after slow initial growth, the biosimilars market is poised for accelerated expansion between 2015-2020 as major biologics lose patent protection, US legislation establishes a regulatory pathway, and payers increase adoption to control costs. The market could reach $1.9-2.6 billion by 2015, up from $378 million currently, with the largest opportunities in oncology, diabetes, and rheumatoid arthritis. Key drivers include cost pressures on healthcare systems and the availability of lower-cost biosimilar alternatives to expensive biologic drugs. However, significant barriers remain due to varying regulations worldwide and resistance from biologics manufacturers.
This document provides an overview of research methodology for studying the Indian pharmaceutical market and the effect of healthcare products. The objectives are to understand the market contribution of healthcare products and evaluate consumers' and doctors' attitudes towards these products. Secondary research will gather data from company sources, while primary research will involve interviews with chemists, doctors, and consumers. The study aims to benefit researchers, the sponsoring organization, and colleagues by providing insights into opportunities in the domestic pharmaceutical market.
Preparing for a career inthe pharmaceutical industryMentLife
The document provides information about preparing for a career in the pharmaceutical industry. It discusses the pros and cons of working in the industry, some key statistics about the industry, and how the industry is changing and responding to challenges. It provides tips for how to prepare for an interview, improve chances of getting a job, and what skills are needed at different stages of the research and development process. The industry is still profitable but facing pressures to reduce costs through consolidation and outsourcing while demand for new drugs grows.
This is part of the MaRS BioEntrepreneurship series.
Speaker: Lynne Zydowsky, Ph.D., Managing Principal Zydowsky Consultants
* Explore the development of regulated drugs and devices
* Understand where and how value is generated in the pharmaceuticals industry
* Appreciate the interplay between science and business in a biotech company
To download a copy of the audio for this presentation, please go to:
http://www.marsdd.com/bioent/oct16
For the event blog and Q+A, please see:
http://blog.marsdd.com/2006/10/17/bringing-together-art-and-science/
Marketplace positioning and preliminary Market forecast Gabrielle Forman
The document provides an overview of TARIS's market research on bladder cancer and overactive bladder syndrome (OAB). Key points include:
1) Bladder cancer represents a large underserved market opportunity with increasing development activity in recent years. The market research validated the potential for TARIS's sustained drug delivery approach to transform bladder cancer treatment.
2) The research estimated the peak US market opportunity for successful bladder cancer treatment to be over $1 billion based on incidence rates and treatment costs.
3) Research also found the economic burden of OAB to be high, around $36.5 billion annually in the US. TARIS's non-invasive treatment approach could address unmet needs and target
GetPersonalized! Pharma's perspective on the future, Claudia KarnbachSitra / Hyvinvointi
Pharma's perspective on the future, Claudia Karnbach, Head, Global Business Development and Licensing, Specialty Medicine, Bayer Healthcare Pharmaceuticals (USA, New York)
This document summarizes key trends in the global biotechnology industry and their implications. It discusses three major drivers that are forcing fundamental changes: patent expirations in big pharma, the rise of personalized medicine, and globalization. These drivers are challenging traditional business models and competitive advantages. The document also examines how structure and incentives impact companies' ability to innovate and take risks. Specifically, it notes that large companies struggle with reinnovation due to pressures for steady earnings, while small biotechs often overlook non-core risks in their focus on drug development. Companies will need to adapt their business models and reinvent themselves to remain competitive in this changing environment.
The document discusses the need for a new paradigm for funding and conducting biotech research and development (R&D) given constraints in the current financing environment. It proposes a model called Holistic Open Learning Networks (HOLNets) that would bring together diverse participants like healthcare providers, patient groups, data analytics firms, and social media networks. HOLNets could fundamentally change R&D by encouraging data sharing, allowing researchers to learn from each other in real time, and taking advantage of the shift in healthcare to outcomes-focused and data-driven models.
A presentation of Genentech strategic growth options vis-a-vis the current economic and structural challenges the biotech industry is facing.
Team project, December 2008.
The document provides details about the 5th Biosimilars Congregation 2014 conference organized by Virtue Insight. It lists the key speakers from various pharmaceutical companies that will be speaking at the conference. The conference will discuss various topics related to biosimilars like clinical trials challenges, regulatory landscape, analytical strategies for biosimilarity, emerging market opportunities etc. It provides the agenda with session details, speaker bios and profiles. The document aims to invite attendees from pharmaceutical, biotech and regulatory organizations to attend and gain insights on biosimilars development and commercialization.
The document discusses marketing strategies used by pharmaceutical companies. It notes that companies are shifting from acute therapies to focusing more on chronic therapies that require long-term treatment. This allows companies to build more stable customer bases. The document also outlines some of the challenges companies face, such as increased competition, high costs of research and development, and complex decision-making processes involving doctors, patients, and other stakeholders. It discusses two common business models - the "super core model" involving a small number of highly successful chronic drugs, and the "core model" involving marketing a larger number of acute drugs.
The document discusses marketing strategies used by pharmaceutical companies. It notes that companies are shifting from acute therapies to focusing more on chronic therapies. This represents a long-term strategy change as chronic therapies require doctors to prescribe the same drugs for longer periods. The document also outlines some of the challenges pharmaceutical companies face in marketing to different customers in the supply chain from doctors to patients. It discusses strategies around patents, research and development, and pursuing either a "super core" model focused on a small number of chronic drugs or a "core" model marketing more acute drugs.
its not my personal work presentation but taken from lecture ppt from university of San Diego, california.
Its about the drug discovery process, its development and its commercialization.
The document discusses trends in the pharmaceutical industry through 2020. It notes ongoing challenges like unmet medical needs, aging populations, and chronic diseases. Future drivers include these aging and underserved populations in developing countries and effects of global warming. The industry will see more integrated value chains between pharma, payers, and providers. Treatment costs are unsustainable so the focus will shift to prevention and pharma providing full healthcare packages with payment for outcomes not just treatment. Pharma business models will change significantly, moving from blockbuster drug sales to more services across the healthcare spectrum. Laboratories of the future will need to develop new capabilities and talent to achieve this changed vision.
This presentation provides an overview of Antares Pharma and highlights several key points:
1) Antares has three FDA-approved products, two products filed with the FDA, and five additional products in development across various therapeutic areas including self-injection technology.
2) Antares has a broad collaboration with Teva to develop five injectable products using Antares' proprietary injection devices, with multiple products already filed or approved.
3) Antares has demonstrated success in developing, gaining approval for, and commercializing products using its transdermal gel and needle-free injection technology platforms. Its approved products address large markets and have strategic partners.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
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Outlook 2011 presentation
1. Global Bio-Pharmaceutical
OUTLOOK 2011
! ! B/203, Alkapuri Arcade, R.C.Dutt Road, Vadodara-390007, INDIA.
Phone: +1|212| 343-6096, +91|265| 232-7096, E-mail: mp@mpadvisor.com
!
2. Rising Star
What is Going Right For the sector?
What Are the Challenges?
Is investment in innovative therapeutics warranted? Which innovative therapeutics
has or will make an impact on the quality of our lives in the next two to three years?
What therapy areas present investment opportunities?
What events in the sector will win thumbs down or be an outright –ve?
Value creation: Our portfolio and top pick recommendations
3. What Is Going “Right”?
• Moving beyond the “wait and watch” for Proof-of-Concept (PoC), Big pharma are giving
importance to Proof-of-Relevance *-Paradigm shift in Partnering Deals: Tap Them Young
• While the HC Reform bill served a blow to profitable Pharma and Biotech companies in US,
it has boosted the Spirit of Research for the non-profitable biotech/ biopharma companies,
Rising stars (RS). R&D may turn the corner as Obama has increased the R&D tax credit by
20% and made it permanent..
• Drug approval in 09 and 2010 was not depressing and some novel approaches have made it
to the market- Provenge (Prostate cancer vaccine) Prolia (PM, osteoporosis), Gileniya (oral
MS drug). The report discusses important upcoming regulatory and clinical milestones
*Proof-of-Relevance: To identify the indisputable clinical and commercial value of early stages compounds.
4. What Are the Challenges?
• Regulatory Pathway and Reimbursements- Our Focused Sector Report discusses
these in depth
• Biosimilars and Patent Expiry- How Close and Real is the “Bio-generic Era”?
• Safety continues to be the key factor in approval of drugs
• Will Lupus, Obesity, Melanoma etc, See a New Drug?- Analysis and Our Take on
the Outcome of the regulatory events.
• Binary Events- Another Intermune like Debacle in 2011? Select milestones in 2011
which could make or break a Company are included in the Report.
5. Therapy Areas Offering Investment Opportunities
• HCV- Protease Inhibitors to The Rescue - Will sweep the HCV market, as they did in the
case of AIDS. At least two compounds will be approved (telaprevir, boceprevir) before
2012. Analysis of the therapy Area and Leading Companies- Vertex, Pharmasset. Market
Dynamics and unmet Need.
• Autoimmune/ Inflammation diseases have seen the best outcome –both in targeting unmet
needs and better patient friendly treatment options. Oral drug (INCB28050, R788,
RDEA594, Gilenya) options are likely to make way for many diseases, such as, RA, MS;
where injectables and biologics are the only options. Lupus and Gout will finally see
approval of safer and more efficacious products (RDEA594, Benlysta, Epratuzumab) by
2011-14.
• Rare Genetic - Orphan diseases continue to be pursued as a preferred area by Innovators -
premium pricing, low regulatory bar, etc. are incentives. Besides ERT (Enzyme Replacement
Therapy), drugs for MPN (Myeloproliferative Neoplasms), IPF, HoFH (Homozygous
Hypercholesterolemia) should be approved by 2011-14.
• Melanoma – MAbs may finally deliver –With 120,000 diagnosis of melanoma annually,
and 300 agents investigated thus far, it is amazing that effective products for melanoma
remain elusive. Benlysta Approval???
6. Mature Biotech
Resembling Global Pharmas and Specialty Pharmas of last decade
“Is the age of the biotech monopoly about to end ?”
7. Mature Biotech – Issues
CY 2010 affected all Pharma companies by “Obamanisation and Implementation of
the Health Care Reforms (HC)” wiping off their market value significantly in the
first half of 2010.
• Drying new product launches, thin pipeline and intensifying competition
• New Drugs Approved, but will they boost the sales or is the wait going to be
longer?
• Patent Expiry Impact is Modest and Built into the Current Price; However outcome
of Para IV Filing from Global Generic Players can surprise and will remain a
“Hanging Sword” for the innovator. Report includes the patent expiry, sales table of
major biologics and regulatory pathway being framed in US and for mAB in EU.
• Life cycle management approach by making better biologics, me toos. Report
highlights the 2nd generation tools and technologies for making better biologics,
mAB based drugs.
•
8. Mature Biotech – Issues
• Discounted pricing for patented follow-on drug launches could become a norm
• Re-imbursement issues:
• CMS support to MCOs and PBMs for price negotiations should limit pricing
flexibility
• Off label re-imbursement cuts
• German/ EU reference pricing, NICE & Japanese health reforms seeking stringent
cost control
• FOB or Biosimilars:
• Coming closer to reality as guidelines already placed in EU and in the works in US.
• Lack of products to make up for the biosimilar erosion and sales loss.
• M&A and In-licensing remains key for future growth
• Compete with cash rich Global Pharmas
• Fewer opportunities with inflated valuation
9. Silver Lining
• Mature Biotech Can still afford to choose good products in the making…
• Outsourcing is the Mantra for Fueling the Pipeline
• Healthy cash position and depressed valuations = opportunity to buy back
shares and improve valuations.
10. Valuation Methodology
• MP Advisors’ Proprietary Sum-of-The-Parts Valuation enables us to quantify the
difference between the current equity value and the value arrived using our valuation method
comprising three parts, i.e., Part A, Part B, and Part C as described below:
• Value the marketed products till their respective patent expiries (Part A);
• Value the late stage pipeline as of today (Part B) (Consider only the late stage PhIII and
registered products).
• Value the management’s ability to convert early stage R&D activities into mainstream
products and company’s strategic approach- historical and visionary, by giving a premium to
their future cumulative R&D investment (Part C).
• The difference between the current equity value and Part A plus cash and other income value
represents the gap that needs to be met through the company’s late stage R&D pipeline (Part
B) and other strategic efforts (Part C) and drives our recommendations
12. Dawn of the Biologics/Bio-Generics Era
• Worldwide sales of all biologic drugs, including therapeutic proteins, vaccines, and mAbs,
reached ~$130 billion (2009 IMS)
• Evolving pharma landscape: Gradual strengthening of the biologic drug portfolio in
preparation of the patent cliff as well as improving the profitability
• We predict a shift towards more R&D and higher valued M&A in biologics over the next
few years, as the regulatory pathway for approvals of “Me Toos, Biosimilars” including
mAbs comes into effect
• Potential market for biosimilars: >$30b in the second half of the decade as multiple
patents expire
• Affordability to accelerate the demand
• Over time, we expect Affordable Biosimilars to take a significant market share and/or force
Innovators to cut prices significantly
12
13. Maturing Technology Platforms For Better Biologics
• Second Generation Monoclonal Antibodies
• Antibody Drug conjugation (ADC)
• Protein Engineering: Humaneering, Glyco-engineering, Half-Life Extension
technologies etc.
13
15. Global Pharmaceuticals – 2011 Outlook
Opportunities - Emerging Markets and Innovation - Taking longer to
deliver
Challenges - Patent Expiry and Regulatory pressures - Imminent
Global Pharma’s Cutting Cost to Manage the Gap
15
16. Highlights for 2011 – Global Pharma’s Nearing the Patent
Cliff
Global pharmaceuticals – Emerging Market Strategy
Outcome from Major Clinical Studies/Events expected to reshape Competitive
Dynamics across several therapy classes
New Drug Approvals for 2011 and their potential
Healthcare Reforms
How will patent expiry impact margins for Global Pharma companies
16
17. Global Pharma - Emerging Market Strategy
Who is doing it’s best in Emerging Markets?
Who will emerge eventually in Emerging Markets?
Pricing Mantra – Who has got it Right?
Branded Generics Strategy – Will it Deliver?
China – Growing Prominence
Notable Launches from Global Giants
17
18. Outcome from Major Clinical Studies/Events expected to reshape
Competitive Dynamics across several therapy classes
Dyslipidemia
Stroke Prevention in Atrial Fibrillation
Acute Coronary Syndrome
Hypertension
Diabetes
Metastatic Melanoma
Wet Age AMD
18
21. Health Care Reform: Doughnut Hole Discounts –
Impact on Therapy Class
Share Of Part D Enrollees Who Reached Doughnut Hole And Catastrophic Coverage
% that reached gap but Companies likely to bear
% that reached % of Part D enrollees
Therapy Class not catastrophic the brunt because of major
catastrophic coverage who use the drug
coverage presence
For Alzheimer's 49 15 4 Pfizer
Oral anti-diabetics 41 10 12 Merck, Astrazeneca, BMY
Proton-pump inhibitors 40 11 18 Astrazeneca, JNJ
Antidepressants 35 10 18 Lilly, Pfizer, Astrazeneca
Angiotensin receptor Novartis, Sanofi,
35 7 17
blockers Astrazeneca
Statins 33 6 40 Astrazeneca
Osteoporosis drugs 32 7 15 Roche, GSK, Novartis
ACE inhibitors 30 5 28 Sanofi Aventis
Source: MP Advisors, Company reports, Georgetown University/ IMS health LRX database 2007
21
23. Emerging Markets : Will Take Longer To Deliver
Size Of Emerging And Developed Markets
GDP ($b)
Per Capita Population in
Country Mkt Size ($b)
Income $ million Prescription drugs Prescription spending as %
(Nominal) Spending per Capita of Per capita income
DEVELOPING COUNTRIES
China 15 4,327 3,241 1335 18 0.55%
India 5 1,206 1,026 1175 6 0.57%
Russia 5 1,676 11,887 141 49 0.41%
Brazil 12 1,572 8,188 192 44 0.54%
Turkey 9 729 10,268 71 124 1.21%
South Africa 9 276 5,633 49 39 0.70%
DEVELOPED COUNTRIES
US 281.6 14,441 47,039 307 1141 2.43%
Japan 57.2 4,910 38,661 127 448 1.16%
Germany 34.4 3,673 44,793 82 756 1.69%
UK 22.6 2,680 43,934 61 311 0.71%
France 37.2 2,866 44,781 64 796 1.78%
Canada 16.6 1,499 45,424 33 1000 2.20%
Source: MP Advisors, Company Reports
23
25. Para IVs – The New India Advantage
Snapshot of Indian Cos. Para IV Challenges
No. of Para IVs where 30 No. of products
No. of Para No. of FTF
Indian cos. mths stay will expire in 12 settled / won /
IVs claimed
mths unlitigated
Sun Pharma 19 13 6 3
Dr Reddy's 17 16 5 6
Lupin 14 5 4 3
Ranbaxy 13 13 8 5
Wockhardt 8 5 3 Nil
Glenmark 6 3 3 2
Aurobindo 5 3 2 Nil
Torrent 5 4 1 3
Orchid 4 3 Nil 2
Cadila 3 2 Nil Nil
Source: MP Advisors, Company Reports
Indian Pharma companies are involved in 50% of the ongoing Para IV litigations!
25
26. Para IVs – The New India Advantage
Rank Drug Name Innovator Sales '08 $m Cos. as FTFs
1 Lipitor Pfizer 12401 Ranbaxy
2 Plavix Bristol Myers 9004 Apotex
6 Diovan Novartis 5740 Ranbaxy
8 Nexium AstraZeneca 5200 Ranbaxy
10 Zyprexa Eli-Lilly 4697 Dr Reddy’s
15 Seroquel AstraZeneca 4452 Teva
16 Singulair Merck 4336 Teva
17 Actos Takeda 3958 Ranbaxy
18 Effexor XR Wyeth 3928 Teva
Sandoz / Teva /
19 Atacand AstraZeneca 3702 Mylan
20 Gleevec/Glivec Novartis 3670 Sun Pharma
Source: MP Advisors
Indian cos. have 180-day exclusivity in 6 of the top 11 products under litigation
26
27. Domestic Formulations – Growth Guaranteed
20
16 → GMP guidelines in July '05
8
→ Excise duty on MRP in Jan. '05 8
12
1 8 7
1
8
%
1
10 9 9 8 9 1
4 9
4 5
0 0
0 1
(1)
(3) (2)
(1)
(1)
-4
8% 5% 7% 9% 18% 13% 13% 17%
-8
2002 2003 2004 2005 2006 2007 2008 2009
Volume Value New Products
Source: IMS
GMP norms earlier and GLP norms now to help consolidation of a highly fragmented
market
27
28. Contract Manufacturing – Generics Gain The Most
Why manufacturing alliances happen only with generic cos. and not with contract
manufacturer?
• Generic cos. are present in various manufacturing technologies with competitive cost efficiencies as against a
contract manufacturer that is limited to a handful of technologies.
• Generic cos. are anyways selling the manufactured product to one or the other generic market and thus have well
oiled manufacturing operations. As against this, a contract manufacturer will have to go through a lengthy validation
procedure.
• For a generic company, most of the time, contract manufacturing would be a way to leverage spare capacity and thus
can offer much more competitive pricing as against a contract manufacturer that has to recover entire overheads
from the contract manufacturing deal.
• Most of the facilities of generic manufacturers are already validated by regulated market’s authorities – something
that is not so easily found with a pure play contract manufacturer.
Gain For Generics is Loss for Contract Manufacturer
28
29. Acquisitions – Can One More Big One Happen?
Why are Global companies interested in Indian Pharma?
• Manufacturing cost efficiency
• Chemistry skills
• Growing India pharma market
• Indian cos. presence in critical emerging markets like Russia, Africa.
29
30. Japan Pharma 2011
日本の製薬会社
Top Picks : Daiichi Sankyo, Takeda, Shionogi
and Torii
!
30
! !
31. Summary
• In 2009 and 2010, our thesis for Japan Pharma Inc was based on drive to reduce healthcare
cost in Japan thru government lead incentives for genericization.
• The Generics thesis has played out for now and spotlight for next 18 months will be on the
clinical & regulatory outcome from Innovators.
• Hybrid Pharma will start from 2011. We believe that the new business model will start
showing its tangible and significant numbers from FY/12. Daiichi Sankyo is the only company
in Japan in Hybrid Pharma.
• Consolidation in Japan Generic may Start: Foreign/ non-generic companies have started
taking Japan generic as one of the growth drivers.
• Early Stage Pipeline of Japanese Companies shows that cancer is priority: Japanese majors
have focused on acquiring companies or in-licensing compounds in Onco therapy. Takeda,
Astellas, Daiichi-Sankyo, Eisai, Chugai and Kyowa Hakko Kirin – each of them possess decent
number of cancer compounds.
• Japanese Companies have Lost Their ‘Cash Rich’ Status: Except Takeda and Chugai, none of
the Japanese companies carry >20% of their market-value in form of cash.
2011-12, Innovation milestones will drive the valuation of stocks
31
32. Segments Specific ‘Key Success Factors’
Segment Key Success Factors Top Picks
Innovators
Domestic focused Low % sale coming from long listed products
Late stage R&D – own as well as in-licensed.
Torii
Internationalization capabilities
Willingness to consolidate
Strong marketing abilities in Japan such that it improves the chances of licensing-in
good products
Global Higher overseas exposure
Lower long listed drugs contribution Daiichi Sankyo,
Takeda, Shionogi
Rich PhIII pipeline
Generics
GP1/DP2 Strong marketing infrastructure with sales force and rapport with GP / DP
Oral formulations etc.
DPC3 Distribution capabilities
Injectable facilities, availability of all strengths of drug
Cost effectiveness, stable supply
1. General Practitioner; 2. Dispensing Pharmacy; 3. Diagnostic Procedure Combination
JP Specific Drivers Continue To determine Success
32
33. Large Pharma – Rich Pipeline
PhI PhII PhIII
candiid candid candid
Company ates ates ates Major Focus Comments
Takeda 19 9 13 Cancer Novel, varied targets for cancer
Cancer & R&D portfolio w ith some novel first in class targets,
Astellas 20 15 8
metabolic like survivin suppressant, GPR119 agonist
Neurology & Antibody against folate receptor alpha, taregting
Eisai 0 10 7
cancer cancer, can be a useful anticancer agent
Diabetes,
Neurology,
Mitsubishi Tanabe 11 10 5 Good novel targets in different therapeutic class
Cardio &
immunology
Cancer &
R&D porfolio consisting of antibodies for cancer, w ith
Daiichi Sankyo 7 10 5 infectious
some good target like PPARY
diseases
Metabolic &
Neuropeptide Y Y5 receptor, a very attractive target
Shionogi 8 9 4 infectious
for obesity, but success rate low
diseases
Has tw o first in class targets, Chemokine receptor 4
Kyow a Hakko Kirin 13 6 2 Cancer
antagonist & A33 for cancer
Novel validated targets for cancer, w orking on
Chugai 9 10 1 Cancer
Raf/MEK pathw ay
Diabetes &
First in class targets like TLR7 & PPARα/Y can be
Dainippon Sumitom 7 4 0 immunological
attractive
disorders
Source: MP Advisors; Company Reports
Japanese Companies show that cancer is a priority
33
34. Cost Cutting : Japan vs. Other Sectors
GPM SG&A R&D OP M NP M
% of Sales (% of Sales) % of sales of Sales of Sales
% %
Takeda 80.02 31.50 19.95 28.57 18.96
Astellas 70.17 33.48 21.55 15.13 9.83
Daiichi Sankyo 70.84 39.13 20.17 11.53 5.55
Eisai 78.73 46.42 21.73 10.58 5.50
Mitsubishi Tanabe 63.66 28.21 20.76 15.47 7.75
Kyorin 62.50 37.17 11.92 13.41 8.92
Dainippon Sumitomo 67.33 40.41 17.84 9.08 5.19
Kyowa Hakko 43.47 23.09 10.43 9.95 5.44
Shionogi 73.29 34.84 18.61 19.84 12.72
JAPAN AVG 67.78 34.92 18.11 14.84 8.87
US Global 77.44 28.16 18.77 30.09 22.84
EU Global 74.65 30.90 17.03 31.99 22.01
M. Biotech 82.15 22.21 17.65 40.92 33.52
India 60.59 25.41 4.91 21.78 19.72
Diff vs. US-Global -12.48% 24.01% -3.53% -50.69% -61.14%
Diff vs. EU Global -9.21% 13.01% 6.30% -53.61% -59.68%
Diff vs. M. Biotech -17% 57% 3% -64% -74%
Diff vs. Indian 12% 37% 269% -32% -55%
*Average of three y ears (2010-2012)
Source: MP Advisors; Company Reports
Low Margin Business = Better Room for Improvement
34
36. Cash Position of Japanese Pharma Cos
Net
Marketed Total Total Net Cash
Cash cash
Company Securitie Cash Liabilities M Cap as % of
(1) (1+2)-
s (2) (1+2) (3) M Cap
3
Takeda 280.5 616.5 897.0 0.0 897.0 3074.6 29.2%
Chugai 120.9 52.2 173.1 0.0 173.1 819.9 21.1%
Kyorin 16.0 5.0 21.0 6.2 14.8 101.7 14.5%
Astellas 184.0 22.2 206.2 30.0 176.2 1419.4 12.4%
Mitsubishi tanabe 29.2 77.6 106.9 36.0 70.9 738.8 9.6%
Kyowa Hakko NA NA 46.7 13.3 33.4 488.3 6.8%
Daiichi Sankyo 101.1 281.5 362.3 293.6 68.7 1289.7 5.3%
Shionogi 42.3 72.1 114.4 99.0 15.4 516.4 3.0%
Eisai 116.1 88.0 204.1 349.8 -145.7 816.9 NA
D Sumitomo 14.7 74.4 89.1 168.2 -79.0 291.3 NA
Source: MP Advisors; Company Reports
Japanese Companies have Lost Their ‘Cash Rich’ Status
36
37. Domestic Cos Confronting Several Fronts
Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Company
Long L As % of DO Sales 43.51 38.61 38.39 34.63 48.14 50.16 50.21 46.17 43.61 38.35
Astellas
Overseas Sales % 46.77 45.77 43.49 42.08 40.02 42.89 44.15 46.30 48.29 51.21
Long L As % of DO Sales 32.12 26.80 18.51 21.82 19.44 23.17 26.82 19.66 18.12 16.65
Chugai
Overseas Sales % 9.72 9.70 6.25 7.05 8.00 9.41 9.51 9.54 9.27 9.36
Long L As % of DO Sales 28.98 31.81 47.26 56.14 52.37 48.59 45.79 44.46 43.43
Daiichi Sankyo
Overseas Sales % 38.6 44.7 50.4 50.9 52.0 54.8 54.2 57.5 58.0
Long L As % of DO Sales 16.68 41.04 71.73 70.01 67.55 61.51 57.91 59.96 55.51 51.37
Dainippon Sumitomo
Overseas Sales % 7.31 7.99 7.27 17.80 36.41 34.62 35.18 32.09 30.15 25.26
Long L As % of DO Sales 28.02 26.21 28.69 27.95 45.27 78.57 75.68 74.64 71.40 62.18
Eisai
Overseas Sales % 57.30 58.53 64.26 61.58 59.42 55.99 58.49 58.00 60.03 65.13
Long L As % of DO Sales 41.40 39.32 32.81 29.71 28.07 27.14 25.63 24.32 23.09 21.91
Kyorin
Overseas Sales % 4.15 3.70 2.75 2.36 2.12 1.93 1.78 1.74 1.61 1.49
Long L As % of DO Sales 23.72 21.15 23.86 34.96 33.04 31.33 32.16 36.53 34.89 33.32
Kyowa Hakko Kirin
Overseas Sales % 3.44 4.16 6.69 4.89 5.16 5.05 5.00 5.04 5.08 5.11
Long L As % of DO Sales 65.11 60.68 60.93 59.41 61.62 57.29 52.71 49.21 59.85 57.77
Mitsubishi Tanabe
Overseas Sales % 5.81 6.10 5.65 5.20 4.94 4.73 4.46 4.18 3.95 3.83
Long L As % of DO Sales 44.85 39.67 49.65 42.22 37.66 32.24 26.95 22.17 18.37 15.74
Shionogi
Overseas Sales % 14.44 15.81 24.65 36.33 38.50 39.18 40.05 39.28 39.08 38.26
Long L As % of DO Sales 14.93 19.31 19.51 23.00 28.91 27.97 27.37 45.31 44.43 43.64
Takeda
Overseas Sales % 33.82 49.69 54.80 53.16 50.51 52.38 45.27 46.43 47.23 49.68
Source: MP Advisors; Company Reports
High Dependence on Domestic Markets + Long Listed Products
Makes Do. Cos Vulnerable to Healthcare Reforms
37
38. Revised Incentives For Pharmacies and GE Usage Rate
Rate of GE (%) Rate of GE (%)
(on prescription basis)
GE usage rate (o n volume basis)
Relative Cumulative
Relative number Cumulative Total
Until March, 2010 Since April, 2010 number Total
Standard for 9.7 9.7 65%≦ 0.1 0.2
calculation on prescription basis Incentive points (¥) 4.3 14 60%≦ 65% 0.2 0.4
5.5 19.6 55%≦ 60% 0.3 0.7
GE drug 30%≦ 4 points + 13 points 17 points (170yen)
7.4 27 50%≦ 55% 0.5 1.2
usage rate 25%≦ 0 points +13 points 13 points (130 yen) 9.9 36.9 45%≦ 50% 1.0 2.2
20%≦ 0 points +6 points 6 points (60 yen) 13.3 50.3 40%≦ 45% 1.5 3.7
20%> 0 points ±0 points 0 points 16.5 66.7 35%≦ 40% 2.4 6
15.3 82 30%≦ 35% 4.0 10.1
Source: MP Advisors; Company Reports
8.1 90.1 25%≦ 30% 7.3 17.4
5.1 95.2 20%≦ 25% 13.3 30.6
2.6 97.8 15%≦ 20% 25.5 56.1
1.3 99.1 10%≦ 15% 30.7 86.8
0.6 99.7 5%≦ 10% 11.5 98.3
0.3 100 0%≦ 5% 1.7 100
42.6 Average rate 18.2
40.1 Median rate 16.0
Generics Investment Thesis:
• Increase in incentives for pharmacies has led to a spur in generic sales (~50% increase in 1Q FY 03/11)
• Growth will not continue as number of pharmacies (~82% of total) have now reached the ‘bracket’ that gets the maximum benefit of
‘Rx incentive for generics
Incentives for Pharmacies are playing out their maximum impact 38
39. Generic Cos at a Glance
Sawai Towa Nippon Chemi
03/10 03/11 03/12 03/13 03/14 03/10 03/11 03/12 03/1 03/14 03/10 03/11 03/12 03/13 03/14
¥b A E E E E A E E 3E E A E E E E
Sales 50.1 61.6 72.3 82.6 90.5 39.0 44.2 49.5 56.2 63.0 24.0 28.6 30.9 33.7 36.1
% Change YoY 13.1 23.0 17.4 14.3 9.5 8.7 13.2 12.1 13.4 12.2 7.5 19.3 7.9 9.1 7.1
COGS 26.3 32.6 38.3 44.2 48.2 18.8 21.3 23.7 26.8 30.0 11.4 14.7 15.8 17.3 18.6
SG&A 11.7 12.8 15.2 17.5 19.1 9.9 11.0 12.3 14.2 16.0 11.8 12.8 13.7 15.0 15.9
% of sales 23.3 20.8 21.0 21.2 21.1 25.5 25.0 24.8 25.3 25.3 47.8 44.8 44.3 44.6 44.1
R&D 3.6 4.2 5.0 5.6 6.4 2.6 3.1 3.4 4.0 4.5
% of sales 7.2 6.8 6.9 6.8 7.1 6.6 7.1 7.0 7.1 7.2
OP 8.5 12.0 13.8 15.3 16.8 7.8 8.8 10.1 11.2 12.5 0.8 1.1 1.4 1.4 1.6
% Margin 17.0 19.4 19.2 18.6 18.6 19.9 19.8 20.4 19.9 19.9 3.2 3.9 4.6 4.0 4.5
NP 5.0 6.6 8.2 9.1 10.0 4.6 5.3 6.1 6.5 7.3 0.3 0.5 0.7 0.7 0.9
% Margin 10.0 10.7 11.4 11.0 11.0 11.8 12.0 12.3 11.5 11.5 1.1 1.9 2.4 2.1 2.4
Source: MP Advisors; Company Reports
Generics Investment Thesis:
• Broadly generic market is divided into two segments: GP/Dispensing market and DPC market
• Companies focusing on the GP/Dispensing market: Companies ability to offer better margins remains the key success factor. Growth in
dispensing Pharma market due to increase in incentive of pharmacies. Companies like Towa and Sawai focus on these segments.
• Companies focusing on the DPC market : Number of DPC hospitals are >1500 and likely to grow further. Stable supply, availability of
formulations at different strengths, and a strong distribution channel with wholesalers are key growth drivers. Companies like Nippon
Chemiphar, Eisai’s and Kyorin’s generic divisions etc. focus on this segment.
• We expect generics penetration to reach ~8% (by value) by 2012 (Government’s target is 15%. The new patent expiries of ~900b yen in
next three years will help generic companies maintain current pace of growth.
39