Dubai,31 March 2013:Alpen Capital announced the publication of its GCC Pharmaceutical Industry report which assesses growth potential of thepharmaceutical industry by examining a variety of driving forces, along with the noteworthy trends and key challenges. The report also provides a long-term industry outlook and proposes recommendations that could help attract higher foreign investments, bring regional drug prices closer to the world average, and aid the overall market growth.
The GCC pharmaceutical industry is expected to experience sustainable growth in the medium to long term. Increased domestic production, foreign investments, and consumption of generics are likely to support the market's evolution. These factors are supported by growth drivers such as population growth, increasing life expectancy and growing income levels which will further enhance the expansion of the sector”, says Sameena Ahmad, Managing Director at Alpen Capital
“We feel that government measures to control pricing of essential drugs and compulsory health insurance will increase local drug manufacturing in the Pharmaceutical sector. The absence of new molecules is pushing global majors to enter the generic drug space, As a result of the above factors, we see a surge in global companies entering the regional markets through joint ventures with local manufacturers”, says Sanjay Vig, Managing Director, Alpen Capital