Nature Medicine | Spoonful of Medicine
Gloomy pharma forecast in Japan downgraded after quake
By Branwen Morgan Japan is the world’s second largest pharmaceutical market after the US on the basis of total revenue. But according to Business Monitor International (BMI), a London-based analyst firm, Japan’s overall pharmaceutical market is stagnating, and the devastating 9.0-magnitude earthquake that struck in March has introduced new uncertainties. In its initial review, published in early March, BMI stated that factors such as the government’s cuts to subsidies for prescription medicines and its pro-generics stance will conspire to lower annual growth rates going forward. Presently, pharmaceutical expenditure is 1.8% of the country’s gross domestic product and BMI predicted that
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