Attractive To Some, Not So Much To Others

BMI View: Drug companies will face many challenges in Western Europe over the next decade. Our forecast is underpinned by the poor state of public finances across the eurozone, which will see the largest economies undergo prolonged fiscal adjustments in addition to the patent cliff, extra regulatory hurdles and increasingly scrupulous cost-effectiveness assessments of new drugs. Despite the threat of austerity measures and governments' focus on cost-containment, we expect the Western European region to remain attractive to innovative drugmakers - per-capita spending is high, there is a sizeable pensionable population and regulations are transparent - factors BMI believes will continue

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