Friday, January 2, 2009

Iran Pharma Business in 2008

Stricter regulation internationally and locally, improving local manufacturing quality and available choices, global financial crisis as well as socio-economic condition of Iran and finally local budget constrains are for sure among the major factors affected low foreign pharmaceutical business performance in Iran during the year 2008.

Globally , the number of blockbusters seem to have been decreased dramatically and not much revolutionary NMEs are expected the way it happened in 90s. Also the emergence of generics from low end markets and their appetite to capture green markets like Iran made the presence of many products shorter than ever. Still Pharma seem to have been affected less than many other industries i.e. those directly affected by oil price fluctuation such as oil and gas companies.

Soon the pharmaceutical sector will be affected too and a need for the sales and marketing team re-engineering will be a new discussion. How to reach to the clients in a shorter period of time and deliver effective messages.

Pharmaceutical companies also face a tougher road to drug approval from the ministry of health if not considered the local manufacturing option on the table.