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Japanese Pharmaceutical Market, 2006-2011

The Japanese pharmaceutical market is the second largest individual market and with sales of $60 billion constitutes approximately 11% of the world market. However, it is a market that frustrates the major pharmaceutical companies as it is growing at a significantly lower rate of growth than the average of the world pharmaceutical markets.

Historically this has been attributed to the struggling Japanese economy, but more recently the biennial NHI drug price reductions have been the determining factor of the Japanese pharmaceutical market. As the Japanese government seeks to stimulate further industrial growth, it must adopt policies that also continue to restrict the overall health expenditure.

Pivotal period of change

The Japanese pharmaceutical market is entering a pivotal period of change. Although it is unlikely to see high growth before 2011, visiongain expects significant company activity as Japanese pharmaceutical companies strive towards international competitiveness. Global pharmaceutical companies have already begun to take advantage of the changing regulatory and economic conditions in Japan. The following five years will see further mergers and acquisitions as already demonstrated by the leading companies within Japan.

The Leading Pharmaceutical Companies Within Japan

1. Takeda
2. Astellas
3. Daiichi Sankyo
4. Pfizer
5. Roche (Chugai)
6. Eisai
7. Dainippon Sumitomo
8. Novartis
9. Taisho
10. Mitsubishi Pharma

Why you should buy this report

• The Japanese market is worth $60 billion and the major pharmaceutical companies are seeking greater return from their investments.
• Key companies are examined, recent histories summarised and strategies outlined to provide indications of potential strengths.
• Detailed analysis of the Japanese reimbursement system. The Japanese patent system is outlined.
• This report considers the latest financial and anecdotal information from the Japanese pharmaceutical market to enable the most accurate assessment of the medium-term future of the $60 billion market.

Table of Contents

1. Executive Summary

• 1.1 Japanese Pharmaceutical Market Set for Low Growth but Considerable Change
• 1.2 Aims, Scope and Format
• 1.3 Research Methodology

2 Introduction

• 2.1 Japan Remains a Key Market for Pharmaceuticals
• 2.2 The Japanese Drug Regulatory Authorities
• 2.3 The Pharmaceutical Affairs Law (PAL) has been important in shaping the Japanese Drugs Market
• 2.4 Acronyms

3. A Brief Insight into the Japanese Economy and Culture of Business

• 3.1 Features of the World's Second Largest Economy
• 3.2 Current Situation of the Japanese Economy, 1995-2005

4. An Overview of the Japanese Pharmaceutical Market

4.1 Japan’s Place in the World Pharmaceutical Market

• 4.2 Cardiovascular Treatments Dominate Japanese Pharmaceutical Market
• 4.3 The Japanese Wholesale Industry Has Shown No Growth and High Consolidation
• 4.4 Drivers and Restraints for the Japanese Pharmaceutical Market
  • 4.4.1 Drivers
  • 4.4.2 Restraints
• 4.5 Changes in the Japanese Approval System
• 4.6 CNS and Cancer Treatments are Therapeutic Growth Areas
• 4.7 Reliance on Revenues from the Japanese Market Only is a Weakness
• 4.8 Forecasts for the Japanese Pharmaceutical Market

5. Top Ten Japanese Pharmaceutical Companies

• 5.1 Further Pharmaceutical Consolidation Expected
  • 5.1.1 Takeda Pharmaceutical Co - Background
  • 5.1.2 Takeda Leads Japanese Market with 5.2% Market Share
  • 5.1.3 Rozerem, Takeda’s New Sleep Disorder Treatment
  • 5.1.4 Actos Provides Growth for TPNA
  • 5.1.5 Takeda Increases its R&D Investment
  • 5.1.6 Takeda Acquire Biotech Company
  • 5.1.7 Takeda's Range of Products Drives Success
  • 5.1.8 Increased R&D Investment Enhances Takeda’s Pipeline
  
  
• 5.2 Astellas Pharma Inc – A Merger of Two Complementary Companies
  • 5.2.1 Astellas’ Merger Results in Large Product Portfolio
  • 5.2.2 Complementary Regional Revenue Streams for Astellas
  • 5.2.3 Astellas and Co-marketing Agreements
  • 5.2.4 R & D – The Way Forward for Future Success
  • 5.2.5 Key Financials
  • 5.2.6 Pipeline Products Through Co-development
• 5.3 Daiichi Sanko Co. Background to the Latest Merger
  • 5.3.1 Six Key Areas of Therapeutic Research
  • 5.3.2 Product Portfolios are Complementary
  • 5.3.3 Daiichi Sankyo Begins Merger With OTC Products
  • 5.3.4 Daiichi Launch Adenoscan - A Japanese First
  • 5.3.5 Daiichi Sankyo Co-promotion Agreement with UCB
  • 5.3.6 Diagnostic Products Remain Important
  • 5.3.7 Increased Independence - Sanofi-Aventis Dissolve Agreements
  • 5.3.8 Daiichi Sankyo Divest Non-Core Business
  • 5.3.9 Combined Financial Strength is Key for Future
  • 5.3.10 Limited Pipeline With Low US Focus
• 5.4 Other Japanese Pharmaceutical Companies
  • 5.4.1 Eisai Dissolves Agreement With Sanofi-Aventis
  • 5.4.2 Eisai Strengthens Alzheimer’s Knowledge
  • 5.4.3 US Market Presence is Key for Eisai
  • 5.4.4 European Market is Also Important for Eisai
  • 5.4.5 Is Dainippon Sumitomo Pharma Too Unfocused?
  • 5.4.6 Dainippon Sumitomo Continues Investment into Diabetes
  • 5.4.7 Chugai and Roche - The First Major Japanese/Global Merger
  • 5.4.8 Mitsubishi Pharma – a Conglomerate With Potential Financial Backing
  • 5.4.9 Kyowa Hakko Kogyo - Focused But Risky Strategy
  • 5.4.10 Shionogi Launches New Antibiotics
• 5.5 Leading Pharmaceutical Products in Japan
• 5.6 Summary: Japanese Companies Will Have Limited Futures

6. Global Pharmaceutical Companies in Japan

• 6.1 Global Pharmaceutical Companies Increase Presence in Japan
• 6.2 Pfizer Merger Increases Pfizer’s Presence in Japan
  • 6.2.1 COPD  - A Key Area of Interest for Pfizer
• 6.3 Roche Initiates Global Presence in Japan
• 6.4 Novartis Continues to Divest
• 6.5 Merck Struggles in Japan
• 6.6 GSK Reorganises Its Medical Sales Force
• 6.7 Summary

7. The Japanese Patent System

7.1 A Patent System of Constant Change

• 7.2 An Improved Patent System Encourages R&D
• 7.3 US Patent System Determining Japanese R&D
• 7.4 Patent Licensing for Genetic Material is Becoming More Important
• 7.5 Changes in Approval Times Will Aid Non-Domestic Companies’ Entry into the Japanese Pharmaceutical Market
• 7.6 Summary

8. Pricing and Reimbursement in Japan

8.1 The Japanese Healthcare System

• 8.2 Revisions to the Health Insurance Law Saw an Increase in Co-Pay
• 8.3 Japanese Drug Pricing
• 8.4 New Developments: Changes to the Pharmaceuticals Affairs Law
• 8.5 New Drug Approval and License System Will Cut Drug Approval Time
• 8.6 The Japanese Reference System
• 8.7 The Reexamination and Reevaluation Drug Systems are Used to Predict Drug Safety
• 8.8 Japan Has Reduced Healthcare Spending Including Drugs
• 8.9 Generic Drug Prices are Set at 70% of the Original Drug Price
• 8.10 Generic Substitution in Japan
• 8.11 The Japanese Wholesale Market in Consolidation
• 8.12 Bungyo: the Separation of Dispensing and Prescribing is Rapidly Increasing
• 8.13 Bungyo Separation Has Dramatic Effect on Retail Pharmacies
• 8.14 Conclusion: The Japanese Government Directly Controls Drug Prices through Price Cuts

9. Generic Pharmaceuticals in Japan

9.1 Generic Drugs Have Low Japanese Market Share

• 9.2 The Key Reason for Low Generic Adoption is Financial
• 9.3 Other Obstacles to Generics in Japan
• 9.4 What is the Japanese Government Doing to Increase Generic Usage?
• 9.5 Leading Generic Companies Merge - Further Mergers Predicted

10. Conclusion

• 10.1 Japanese Pharmaceutical Market Set for Low Growth but Considerable Change

List of Figures

Figure 1.1, Total Revenue ($bn) of the Japanese Pharmaceutical Market 2000- 2005

Figure 4.1, Pharmaceutical Market Share By Country, 2005

Figure 4.2, Drug Expenditure ($ per person) by Country, 2005

Figure 4.3, Health Expenditure by Country (% GDP), 2004

Figure 4.4, Market Share of Japanese Pharmaceutical Market by Therapeutic Category, 2004

Figure 4.5, Forecast ($bn) for the Japanese Pharmaceutical Market, 2006- 2011

Figure 5.1, Percentage of Takeda’s Japanese Revenue From Takeda’s Leading Drugs, 2004

Figure 5.2, Percentage of Astellas’ Japanese Revenue From Takeda’s Leading Drugs, 2004

Figure 6.1, Revenue of the Leading Pharmaceutical Companies in Japan, 2005

Figure 10.1, Total Revenue ($bn) of the Japanese Pharmaceutical Market, 2004- 2011

Figure 10.2, Total Revenue ($bn) of the Japanese Pharmaceutical Market, 2000-2011

List of Tables

Table 4.1, Pharmaceutical Market Value ($bn) for the Major Pharmaceutical Markets, 1-Year to June 2005

Table 4.2, Pharmaceutical Market Value ($bn) and Market Share (%) for the Major Pharmaceutical Markets, 1-Year to June 2005

Table 4.3, Average Pharmaceutical Expenditure Per Person for the Major Pharmaceutical Markets, 2004-2005

Table 4.4, Health Expenditure and Drug Expenditure Growth Rates (%) for the Major Pharmaceutical Markets, 2004-2005

Table 4.5, Ratio of Healthcare Expenditure to Drug Expenditure, 2004-2005

Table 4.6, Expenditure on Health for the Major Pharmaceutical Markets, 2004

Table 4.7, Growth Rate (%) of the Major Pharmaceutical Markets

Table 4.8, Branded and Generic Japanese Pharmaceutical Market Share, 2003

Table 4.9, Japanese Market Revenues ($m) and growth Rate (%) by Therapeutic Area, 2004

Table 4.10, Japanese Market Revenues ($m) and Market Share (%) by Therapeutic Area, 2004

Table 5.1, Revenue ($bn), Growth Rate (%) and Japanese Market Share (%) of the Top Ten Japanese Pharmaceutical Companies, 2004

Table 5.2, Total Revenue ($bn) and Net Income ($bn) for Takeda, 2004

Table 5.3, Key Financial Figures for Takeda, 2004

Table 5.4, Japanese Revenues ($m) for Takeda’s Leading Drugs, 2004

Table 5.5, Takeda Pipeline Products, 2005

Table 5.6, Total Revenue ($m) and Japanese Market Share (%) for Astellas

Table 5.7, Revenue ($m) of Astellas Leading Products By Originator Company, 2004

Table 5.8, Regional Revenue ($m) for Yamanouchi and Fujisawa, 2004

Table 5.9, Revenue ($bn) and Japanese Market Share (%) for Astellas, 2004

Table 5.10, Key Financials for Astellas, 2004

Table 5.11, Astellas Pipeline Products

Table 5.12, Daiichi Sankyo Leading Products By Originator Company, 2004

Table 5.13, Daiichi Sankyo Pharmaceutical Healthcare (OTC) Products By Originator Company, 2004

Table 5.14, Combined Revenue ($bn) and Operating Income ($bn) for Daiichi Sankyo, 2004

Table 5.15, Key Financials for Daiichi Sankyo

Table 5.16, Daiichi Sankyo Pipeline Products

Table 5.17, Revenue ($m) of the Top 20 Pharmaceutical Products in Japan, 2004

Table 6.1, Revenue ($m) from the Top Ten Pharmaceutical Companies in Japan

Table 6.2, Comparison of Pfizer and Chugai Pharmaceutical, 2005-12-19

Table 6.3, Key Financial Figures for Roche, MAT June 2005

Table 9.1, Generic Market Share by Volume and Value, 2005

Table 9.2, Revenue ($m) and Exposure (%) to Generic Competition Facing the Top Five Japanese Pharmaceutical Companies, 2006

Table 9.3, Japanese Generic Manufacturing Companies

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