PHARMACEUTICALS

A medicine for business optimism

Sector
Value

1300bn USD

M

MEDIUM RISK for entreprises

  • Fragmentation

  • Internationalization

  • Capital Intensity

  • Profitability

  • Structural rise in demand boosted by growing middle classes in emerging markets and ageing population as a whole
  • Resilience of drug spending irrespectively of economic cycle
  • Increasing R&D costs well covered by strong cash generation
  • Structural rise in demand boosted by growing middle classes in emerging markets and ageing population as a whole
  • Resilience of drug spending irrespectively of economic cycle
  • Increasing R&D costs well covered by strong cash generation

Key players

Country Role Sector risk
United States

#1 Producer

#1 Importer

#2 importer

A

Low risk

Switzerland

#3 producer

A

Low risk

China

#2 Producer

B

Medium risk

Contact Euler Hermes

Economic Research Team

research@eulerhermes.com

Sector Risk Analyst

Marc LIVINEC

marc.livinec@eulerhermes.com

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