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BMI's Executive Summary[TOP] The UK has one of the most technologically advanced drug markets in Europe, characterised by a booming research sector and comprehensive medicines coverage. BMI estimates that in 2006, the overall pharmaceuticals sector reached a value of US$26.1bn. However, we believe that it will grow to a value of US$35.2bn by 2012 as the government continues to increase health expenditure. Indeed in the quarter, the Chancellor of the Exchequer Alistair Darling revealed that UK government expenditure on health will continue to rise over the next four years, but at a slower rate than previously seen. According to BMIÂ's forecasts overall spending will rise by 4% per year bringing the total spent, as a percentage of GDP, to 9.4% by 2012. This is in line with the European average. In fact, in general news concerning the NHS has been positive recently. In November 2007, it was announced that a budget undershoot for 2007/2008 of GBP1.8bn (US$3.72bn) was expected. The current situation marks a notable turn around from two years ago when the NHS posted an overshoot of GBP547mn (US$1.13bn) and has been made possible by swingeing financial measures. In company terms, there has been quite a lot of activity amongst UK-based firms. The biggest deal saw GlaxoSmithKline (GSK), EuropeÂ's largest drugmaker, acquire privately held US firm Reliant Pharmaceuticals for US$1.7bn. The US firm specialises in cardiovascular drugs, considered one of the weaker areas in GSKÂ's portfolio. Meanwhile, consumer goods firm Reckitt Benckiser has increased its presence in the OTC sector with the purchase of US company Adams Respiratory Therapeutics (Adams). Meanwhile, the UK takes fourth place in BMIÂ's revised Business Environment Rankings for the Western European region. We have completely overhauled the methodology giving greater weight to regulatory factors affecting the drug market, while utilising a more nuanced analysis of country-specific economic and political factors. The UKÂ's position derives mainly from its strong intellectual property regime and strong economic and political indicators. |
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Competitive Landscape for Europe Pharmaceuticals and Healthcare: Sample of Companies Ranked[TOP] Cross-border analysis of regulatory systems comparing the patenting environment, summarising regional pricing and reimbursement factors and monitoring the growth of the Pharmaceuticals sector across the region. Company SWOTs cover leading multinational and national drug companies operating in each market.
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Network of European Pharmaceutical & Healthcare Sources[TOP] BMI's Pharmaceuticals & Healthcare Reports are based on an extensive network of multilateral organisations, government departments, pharmaceutical & healthcare industry associations, chambers of commerce and company reports. Information sources include:
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