Pharmaceuticals

Ásia-Pacífico
Baixo risco
Europa Central e de Leste
Baixo risco
América Latina
Risco Médio
Turquia e Médio Oriente
Risco Médio
América do Norte
Risco Médio
Europa Ocidental
Risco Médio

Resumo (conteúdo apenas disponível em inglês)

Strengths

  • High profitability of biotechs and pharmaceutical companies
  • Strong innovation capacity, in response to requests from authorities but also from patients
  • Development of public health insurance schemes in emerging countries
  • High overall barriers to entry

Weaknesses

  • Strong competition from generic and biosimilar producers
  • Pressure from payers to drastically lower drug prices
  • Regulators pay greater attention to the health impact of new therapies through value-based medicine
  • Increase in debt due to the need to fill pipelines with acquisitions
  • Lower profitability of pharmacy chains

Avaliação de Risco Sectorial

Although the sector faces several challenges, the pharmaceutical industry remains one of the most resilient sectors. It benefits from demographic changes and evolving lifestyles, which lead to greater consumption of medications and the development of public health insurance systems around the world.

However, various challenges persist. Pressures from payers to lower drug reimbursement prices, government criticism regarding the perceived lack of transparency in price setting, and difficulties within the distributor and pharmacy chain segments are among the sector's main concerns. Additionally, in the United States, the public health impact of the opioid epidemic continues to affect both manufacturers and retailers. Furthermore, the measures taken by the U.S. against Chinese pharmaceutical service companies, through the Biosecure Act, aimed at severing ties between U.S. biopharmaceutical companies and their contract manufacturers in China, could drive U.S. companies to seek alternatives in India or Europe.

Finally, given the loss of patents on profitable drugs, the sector must rebuild its therapy portfolio. This is typically achieved through significant and ongoing efforts in research and development. Another source comes from acquisitions of targets, particularly in biotechnology. However, high interest rates and more limited access to credit could not only slow down these acquisitions but also hinder the development of these biotech firms, whose business model is highly capital-intensive.

Perspetivas económicas do sector