Pharmaceutical exports to Europe up in first half

Deliveries to France and Spain doubled over the corresponding period of 2006.

Israel’s pharmaceutical exports to the EU totaled $252 million in the first half of 2007, 42% more than in the first half of 2006. Total pharmaceutical exports rose 6% to $1.54 billion. Israel exports pharmaceuticals to 120 countries worldwide, says Manufacturers Association of Israel Chemical and Pharmaceutical Society chairman Chaim Hurvitz, who also serves as VP Israeli pharmaceutical sales at Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).

Pharmaceutical exports to the US accounted for 75% of the industry’s total export revenue, amounting to $1.15 billion in the first half, 2% less than in the corresponding period. Exports in terms of volume to the US rose by 67%. The Manufacturers Association attributes the anomaly to a 90% plunge in US prices for three generic drugs made by Teva after their 180-day exclusivity periods expired.

Compared with the first half of last year, pharmaceutical exports to the Netherlands rose 123% in the first half of 2007; exports to France rose 113%; exports to Spain rose 75%; and exports to Ireland rose 56%. Exports to Eastern Europe have also increased: exports to the Czech Republic rose 176%; Russia - 72%; and Hungary - 48%. Exports to India rose 64% and exports to China and Thailand both rose by 25%.

Hurvitz called on the government to instruct Israeli health funds and hospitals to give priority to the purchase of Israeli-made pharmaceuticals, which he said were of the same quality and price as imported drugs.

Published by Globes [online], Israel business news - www.globes.co.il - on August 15, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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