Growth Begins To Slow

January 2007 | BMI View

The Saudi Arabian pharmaceutical market is the largest in the Arabian Gulf region and was worth an estimated US$1.14bn in 2005. However, BMI cautions that growth will be sluggish despite favourable economic conditions in the country. This is primarily due to tight price controls. Products can be sold in the country only after the Ministry of Health (MoH) has approved their prices. US drug industry association PhRMA says that these controls act as a considerable barrier to investment. The body also alleges that the MoH discriminates in favour of local drug firms, which have their prices reviewed every five years,

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