BMI View: This quarter has seen the health ministry’s commitment to developing the biotechnology sector demonstrated by its decision to fast-track stem cell therapy candidate NurOwn, discovered by local company Brainstorm Cell Therapeutics, through early stage clinical trials. It is indicative that there is flexibility in perceived long clinical trial approval times granted by the government in developing and commercialising locally-produced biotechnology products, one of the key deterrents to investment in the country. Headline Expenditure Projections ? Pharmaceuticals: ILS7.39bn (US$1.92bn) in 2012 to ILS7.76bn (US$2.15bn) in 2013; +5.0% in local currency terms and 12.4% in US dollar terms. Forecast broadly …
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