COVID-19 dampens Japan's pharma market | Health Care Asia Magazine
,Japan

COVID-19 dampens Japan's pharma market

Reduced healthcare spending will affect multinationals' capabilities to launch new products.

Economic uncertainties brought on by the pandemic will reduce Japan government’s ability to increase spending on pharmaceuticals, a Fitch Solutions report has stated. Although the government released two large supplementary budgets for the country’s economic recovery, Fitch Solutions expects real GDP growth to contract by 5.2% this year.

As a result of Japan’s efforts to curb healthcare spending, bonded with the existing pricing regime, multinational pharmaceutical firms are expected to shy away from launching new products in the near term.

The report cited Astellas Pharma’s revenue in Japan, which came in at US$730m in Q2, down from US$920m in Q2 2019. AstraZeneca’s Q2 sales were also reported to be at $679m, seeing a 2% change in actual terms and 3% change in CER terms.

Other pharmaceutical companies like GlaxoSmithKline, Roche, and Sanofi have also experienced sales declines of 2%, 2%, and 13.3%, respectively, the report noted.
 

Get Health Care Asia Magazine in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The majority of the country’s pharma manufacturing produces generic drugs.
This is expected to affect local pharma growth in the short term.
Nonetheless, more than half of the age group found its use to be comfortable.
The group’s profits after tax ballooned by as much as 138.4%.
Funds will be used to build out its behavioural health and chronic care modules.
Some players have been highly active in digital channels of various countries.
It has also formed a JV with Acurio to develop a private hospital in NSW.
With this, the company now offers an all-in-one patient management service.
The therapy can be done in eight different languages.
The country is expected to have one in five of its population to be elderly by 2050.
Sunway is planning to ramp up its hospital capacity to about 3,000 beds.
The system will help city managers to track epidemic conditions, real-time.
It is funded through the 2020 Primary Healthcare Research Data Infrastructure grants.
The hospital features 200 general inpatient beds and 100 hemodialysis beds.
The platform expanded its services after obtaining an internet hospital license.