¶ … Saudi Arabian pharmaceutical market is one of the largest in the Middle East. Within the Gulf Cooperation Council (GCC), Saudi Arabia represents 65%, or $1.7 billion, of the pharmaceutical market (EPSICOM, 2011). This work will analyze the unique opportunities within the Saudi pharmaceutical industry along with challenges, such as heavily regulated price controls and the barriers to access faced by international pharmaceutical companies. Through a better understanding of these factors, a more complete picture of the market can be obtained.
Saudi Arabia is a unique pharmaceutical market. It is the largest consumer in the GCC, with more than 82% of the medicines utilized being imported (Baines, 2009). Also, the GCC is unique from nearly every other global region in that patients favor brand products over generics. This is despite that generics are the vast majority of the drugs produced in the Kingdom and the GCC. One study estimates the market share of generics in Saudi Arabia is just 5.8% versus 50% in many European countries (EPSICOM, 2011). Another unique aspect of the Saudi pharmaceutical market is that medications can be purchased from a pharmacy without a prescription. This allows consumers to easily exercise their brand preferences (Baines, 2009). In short, Saudi Arabia and larger GCC has extensive and unique differences which must be considered in any business decision in the region.
Most market analysts consider the region to be a tremendous opportunity. Saudi Arabia recently...
The following is a chart of what the February 2006 crash looked like, according to Bloomberg.com. Source: Bloomberg.com, 2007 According to Bloomberg, this downward crash had a dramatic effect on the U.S. market as well. When one views this chart, it is no wonder that speculators are divided about the reactions of Saudi Investors. This was a devastating crash for many and it will undoubtedly have a dramatic effect on their decisions
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
Lack of accountability, transparency and integrity, ineffectiveness, inefficiency and unresponsiveness to human development remain problematic (UNDP). Poverty remains endemic in most Gulf States with health care and opportunities for quality education poor or unavailable, degraded habitats including urban pollution and poor soil conditions from inappropriate farming practices. Social safety nets are also entirely inadequate and all form part of the nexus of poverty that is widely prevalent in Gulf countries.
However, it will depend upon the impact that rising prices will have on consumer spending and corporate balance sheets. Geopolitical tensions could have an impact upon the price of commodities most notably: oil and gold. As various uncertainties around the globe, could have an impact upon the availability of oil supplies, which will cause prices to increase. A good example of this can be seen with the different protests that
Attacks on Pearl Harbor and the World Trade Center had similar historical events surrounding each attack. Franklin Delano Roosevelt and George W. Bush used similar policies to combat further attacks and unite the nation The paper highlights the entwined American reactions to the September 11 attacks and the Pearl Harbor attacks. The paper illustrates the similarities in which the over-prevailing backgrounds of each event created reactions to the devastating measures that
The same argument could reasonably be made for the United States' even more egregious subsequent invasion of Iraq in 2003; the pubic, altruistic reason given was that weapons of mass destruction must be eradicated from this potentially dangerous rogue state. The terrorist attacks on the World Trade Center in 2001 surely gave the U.S. more fodder for its defensive justification for invading. Iraq is, perhaps coincidentally, perhaps not, an oil-rich
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