Adoption of biosimilar drugs by EU countries has been slower than expected, despite the cost savings they could produce. Currently, spending in developed countries on biosimilars totals less than 0.5% of all spending on biologic drugs. Physician caution, the relatively minor 20%–30% price savings per drugs and a small number of biosimilar manufacturers have deterred […]
R&D expenditures by UK businesses declined 2% in 2012 in current prices to £17.1 billion ($27.1 billion). In constant prices, they declined 4%. Total civil R&D expenditures, which excludes defense R&D spending, declined 1% to make up 91% of total UK business R&D spending. Pharmaceutical R&D showed the largest decline, falling 15% in current prices, […]
Draft rules have been released for regulating phyto –pharmaceuticals or plant-based drugs in India. The rules will update the country’s Drugs & Cosmetics Rules. They will cover processed and unprocessed materials from plants, as well as plant extracts in a dosage form that are designed for consumption by humans or animals. However, the regulations will […]
Turkey’s gross expenditure on R&D increased 17.1% in 2012 to TRY 13,062 million ($7,249 million) at current prices. Current costs accounted for 87% of expenditures, and capital costs made up 13%. The business sector performed 45% of R&D and funded 47%. The manufacturing sector accounted for the largest percentage of R&D expenditures by business at […]
Mexico’s new president, Enrique Peña, who was elected last year, has pledged to expand the country’s investment in science. This month, the government voted to increase its science budget by 12% to $6.3 billion. The budget for the National Council for Science and Technology (CONACYT) will increase 20%. In addition, CONACYT aims to establish 500 […]
R&D spending in Spain declined 5.6% in 2012 to €13,392 million ($17,169 million), or 1.3% of GDP. R&D spending by the business sector fell 4.1% to make up 53% of total R&D spending. Higher education R&D spending declined 7.2% to make up 28%, and public sector R&D spending fell 7.4% to account for 19%. Business, […]
Australia’s Ministry of Education has announced AUD 522 million ($495 million) in funding for projects sponsored by the Australia Research Council (ARC). The ARC’s Discovery Projects scheme received the highest amount of funding: AUD 257.6 million for 703 basic and applied research projects. The Future Fellowship scheme, which funds research of critical national importance, will […]
The China Food and Drug Administration published a draft of an update to the 2009 Food Safety Law last month. Among the additions is a statement that food producers and traders “are the first persons responsible for food safety.” The update also specifies that the Food and Drug Regulatory Department is responsible for food safety […]
In 2013, the value of the Indian Pharmaceutical Market (IPM) grew 9.8% to INR 72069 crore ($12.3 billion), down from 16.6% in 2012. Slower growth has affected both leading Indian firms as well as multinational companies (MNCs), but growth has slowed more substantially for MNCs. The value of the five leading MNCs grew 16% in […]
McKinsey & Co. and the China Pharmaceutical Association forecast China’s retail pharmaceutical sales to increase 17% per year through 2020 to nearly CNY 1.9 trillion ($30.1 billion) in their base case scenario. In 2012, China accounted for 3.8% of sales on average for the top 10 multinational drug firms, compared with 3.0% in 2011. In […]
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IBO (Instrument Business Outlook) is a twice-monthly newsletter aimed at providing decision-makers with the latest and most complete information available on the life science and analytical instrument industry, and lab product markets. IBO delivers the latest curated industry news, information and trends, as well as SDi data and analysis to deliver the maximum in industry insight with a minimum time investment for executives and investors.
