(PRWEB) August 11, 2006
Piribo, (http://www.piribo.com) the online destination for business intelligence for the biotech and pharmaceutical industry, has just added key report on parallel trade in pharmaceuticals to its catalogue of research reports.
“Pharmaceutical Parallel Trade in the United Kingdom, 2000-2006 - Market Insights and Trends in a Primary Import Destination” introduces the reader to the scope of parallel trade in the UK based on therapy area analysis of PILs granted through a 7-year period and assessments of parallel import activities that impact on the domestic market.
The UK is the top destination for parallel imported drugs. Approximately 20% of all National Health Service (NHS) dispensed drugs are parallel imports and the market is estimated to be valued at over £1 billion (US$1.8 billion). Although the net benefits to the UK economy are controversial, experts have proposed that consumers save around £300 million or more (US$540+ million) per year due to bulk purchase of lower-priced parallel traded drugs. Furthermore, researchers have calculated that parallel importers profit over £700 million (US$1.2 billion) per annum in Europe from parallel drug distribution, creating a boom market.
Importing drugs into the UK is highly attractive for several reasons: the relatively high prices of domestically supplied drugs compared with European counterparts makes parallel trade viable and profitable enterprise; government incentives encourage pharmacists to source and dispense parallel-traded drugs through the clawback scheme; and the legal and regulatory framework to import and redistribute drugs within the EU is centralized in the UK.
Although historical Court rulings tended to favour parallel importers, recent court cases have been shown to favour the pharmaceutical industry particularly in relation to allegations of supply restriction. Despite this increasingly balanced litigious outcome, the UK parallel import market has evolved into a highly lucrative enterprise. Spectra's analysis of the UK parallel trade market reveals that between 2000 and 2006 over 12,200 parallel import licenses were granted. Prior to 2000, figures show that there were just 2,726 valid parallel import licenses approved in 1998 representing an 18% increase over the previous year at that time; imports have now increased approximately 350% between 2000 and 2006. Assuming Parallel Import Licences (PILs) are renewed after each 5-year period, the UK may now account for over 17,200 valid PILs affecting over 71 research-based multinationals.
- Table of contents in brief:
Chapter 1. Introduction to Parallel Trade
Chapter 2. Parallel Import Analysis by Therapy Area: United Kingdom
Chapter 3. The Market for Parallel Importation in the United Kingdom
“Pharmaceutical Parallel Trade in the United Kingdom, 2000-2006” is available in PDF format from Piribo. For more information, go to: http://www.piribo.com/search/results.html?k=spe009&x=0&y=0
Piribo is a UK-based independent online store supplying business information on the pharmaceutical and biotechnology industries. The website now carries over 3,500 English language titles including, market reports, studies and books and is the UK’s largest online biopharma information store. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. The company was established in 2004.
# # #