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Saudi generic drugs to grow rapidly
Published in The Saudi Gazette on 03 - 06 - 2012

Saudi Arabia's pharmaceutical market (worth $3.5 billion as per industry sources), especially that of generic drugs, continues to grow rapidly due to a number of demographic and regulatory factors, Al Rajhi Capital said Saturday on its report on Astra Industrial Group (with investments in pharmaceuticals, chemicals and steel, caters to the growing economies in the MENA region).
The report said demand for generic drugs is being boosted by higher prevalence of non-communicable or lifestyle-related diseases like obesity, hypertension and diabetes in the Kingdom.
The health care sector in the Kingdom is poised to witness increased private sector participation as the Saudi government shifts its focus from being a service provider to a regulator, which will pave the way for a rise in over-the-counter (OTC) drug consumption in the coming years, the report added.
According to the Central Department of Statistics and Information, the total population of the Kingdom is estimated to grow to 31.6 million by 2016 (22.8 million will comprise Saudi nationals), at a CAGR of 3.1 percent between 2011 and 2016.
According to the World Health Organization, life expectancy in Saudi Arabia was 69 years for males and 75 for females in 2009, higher than the regional average of 64 and 67 years respectively.
In this regard, OTC consumption and penetration of generic drugs will increase.
According to a study on the healthcare market, in 2009, the market share of generic drugs stood at only 5.7 percent in Saudi Arabia as compared to 50 percent in many European countries.
The affluence of the Saudi people had led to higher demand for imported patented drugs.
However, with the regulatory system undergoing changes, the report anticipates patented drugs will lose their sheen, setting the stage for increased consumption of generic drugs.
Moreover, the World Health Organization said Saudi government's spending on healthcare remains the prime contributor (62.9 percent in 2010), while budgetary allocations reached an all-time high in absolute terms (SR68.7 billion in 2011, up 12.3 percent y-o-y).
As a result, the government is undertaking a number of steps like shifting its focus from being a healthcare provider to a regulator, allowing active private sector participation, making health insurance mandatory for expatriates and promoting the use of generic products, mainly in the public sector, Al Rajhi Capital said.
Against this backdrop, one of the leading players in the Saudi pharmaceutical industry, Astra's pharma business – Tabuk Pharmaceutical Manufacturing Company (TPMC) - emerged as the fifth-largest vendor of generic drugs in Saudi Arabia's private market space at the end of 2011, despite intense competition from large multinational companies like Pfizer, GlaxoSmithKline and Novartis. Among the local players, the report said.
TPMC ranked second behind SPIMACO in 2011, while Jamjoom occupied the third place.
The report forecast that the pharmaceutical business will continue to deliver decent margins owing to its strong product pipeline and extensive sales network.


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