Gateway to MENA
Newbury HealthCap provide our partners with market access into the MENA region by designing creative business models as per the company’s portfolio.
Our team has both medical and business experience to identify the opportunities and utilize the local network and culture to deliver market potential for every category of pharmaceutical products.
Economically, the Middle East is well positioned to be the next growth engine of global pharmaceutical sales. Several countries in the region enjoy robust economic growth and the highest cash reserves per capita in the world. The pharmaceutical industry is consequently flourishing as the expanding middle class demands better care, and government healthcare spending continues to grow.
The pharmaceuticals market in the Middle East and North Africa offers a promising opportunity to pharmaceutical companies, in both the innovative and generics sectors. The biopharma market throughout the region exceeds $20 billion and is growing at a rate of about 8% a year. Patented drugs make up 65% to 80% of the pharmaceuticals market in total sales.
In total, the MENA region – stretching from Morocco in the west to Oman and Iran in the east – encompasses a population of 436 million, according to Cortellis Competitive Intelligence. The region’s GDP exceeds $3 trillion. Algeria, Egypt and the Gulf Cooperation Council countries alone comprise an emerging market of about 180 million people, boasting a compound annual growth rate (CAGR) of 12% to 15%.
Many outside companies will have two key concerns about doing business in the region. One is around patents. Over the past several years, almost every country in the MENA region has updated, revamped or introduced new patent laws, with many adopting internationally accepted practices. While in the past only pharmaceutical processes were patentable, it is now possible to patent pharmaceutical products or substances. In most cases, only new chemical entities are patentable, while in others, second medical use or Swiss-type claims are allowed.
Similarly, outside companies will have concerns for the region’s instability. Marketing in the MENA requires a deep understanding of the culture of the various countries and sensitivity to their distinct needs. The geopolitical situation and diverse regulatory schemes may also require manufacturing redundancies and extensive diplomatic know-how. Newbury HealthCap will be your best choice of partner for the MENA region. We are flexible and creative and always strive to meet the needs of our customer. We truly care about our partners and their products and take pride in representing their brands.