BMI View: Saudi Arabia’s large and wealthy population will continue to support demand for patented medicines. While the country’s intellectual property (IP) environment remains below par, multinationals will remain interested in the market, as evidenced by Pfizer and Sanofi’s investment in the construction of local manufacturing and packaging facilities in the King Abdullah Economic City (KAEC), which will be used to supply the domestic and regional markets and also to reduce costs. Headline Expenditure Projections ? Pharmaceuticals: SAR20.35bn (US$5.43bn) in 2012 to SAR22.48bn (US$6.00bn) in 2013; +10.5% in both local currency and US dollar terms. Forecast broadly unchanged from Q213. …
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