BMI View: Malaysia remains a moderately attractive South-East Asian pharmaceutical market. Key positives include economic development and the government’s drive to increase biotechnology investment in the country, supported by epidemiological and demographic factors. However, per-capita expenditure on medicines – much of which is sourced out-of-pocket – will continue to represent a drag on annual growth rates, while also encouraging the use of cheaper generic medicines.
Headline Expenditure Projections
?? Pharmaceuticals: MYR4.51bn (US$1.40bn) in 2010 to MYR4.83bn (US$1.61bn) in 2011; +7.1% in local currency and +14.7% in US dollars. Forecast unchanged from Q311.
?? Healthcare: MYR36.39bn (US$11.32bn) in 2010 to MYR38.93bn (US$12.98bn) in 2011; +7.0% in local currency and +14.6% in US dollars. Forecast unchanged from Q311.
?? Medical devices: MYR3.51bn (US$1.09bn) in 2010 to MYR3.74bn (US$1.25bn) in 2011; +6.7% in local currency and +14.3% in US dollars. Forecast unchanged from Q311.
Business Environment Rating: In our latest update of the Business Environment Ratings (BERs) matrix, Malaysia remains ranked eighth in the Asia Pacific region, out of the now 18 countries surveyed (following the addition of New Zealand). Its slightly lower rating of 59.3 suggests an operating environment that poses some risks to multinationals, yet offers a respectable long-term regional prospect. However, its rewards profile remains the lesser attractive component of its composite score, dragged down by factors such as low per-capita spending.
Key Trends & Developments
?? In July 2011, the Malaysian government launched Clinical Research Malaysia (CRM) in a bid to attract clinical trials to the country. CRM will operate as a non-profit government site management organisation for providing access to 23 clinical research centres (CRCs) and independent CRCs, built in private hospitals and medical universities in the country.
BMI Economic View: The Malaysian government is confident that the country will be able to overcome the repercussions of the global economic slowdown. Despite global economic uncertainties, Malaysia should still be able to register a 5-6% GDP growth in 2011. The country's real GDP growth figure came in at a better than expected 4.0% year-on-year (y-o-y) in Q211, compared with a consensus estimate of 3.6%, although this was still a drop quarter-onquarter (q-o-q). We are also optimistic that despite a stalling economic recovery in the US, domestic demand will remain resilient.
BMI Political View: The implementation of the government’s Economic Transformation Plan (ETP) suggests that public spending should remain elevated over the coming quarters, but also place further strain on the country's fiscal position. Furthermore, the Malaysian government is unlikely to implement measures to withdraw welfare subsidies in the lead up to general election (expected to be held in 2012). This means a slowdown in public spending – including on medical services and pharmaceuticals – is unlikely over the coming quarters, despite growing concerns over Malaysia's fiscal position. Nevertheless, we do not envisage a risk of a funding crisis.

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CONTENTS 3
Executive Summary 7
SWOT Analysis 8
Malaysia Pharmaceuticals And Healthcare Industry SWOT 8
Malaysia Political SWOT 9
Malaysia Economic SWOT 10
Malaysia Business Environment SWOT 11
Pharmaceutical Business Environment Ratings 12
Table: Asia Pacific Pharmaceutical Business Environment Ratings For Q411 12
Rewards 13
Risks 14
Malaysia – Market Summary 15
Regulatory Regime 16
Bioequivalence 17
Pharmaceutical And Medical Advertising 18
Labelling Requirements 18
Recent Regulatory Developments 19
Intellectual Property Regime 20
Counterfeit Pharmaceuticals 21
Compulsory Licensing 22
Free Trade Agreements 22
Pricing And Reimbursement 24
Industry Trends And Developments 25
Epidemiology 25
Table: 10 Leading Causes Of Death In Ministry of Health Hospitals, 2005 26
Communicable Diseases 26
Healthcare Sector 27
Healthcare Sector Funding 29
Medical Tourism 30
Biotechnology And Research 31
Table: Key Points Of The Malaysian National Biotechnology Policy 32
Table: The Benefits Of Conducting Biotechnology Research In Malaysia 34
Recent Biotechnology Developments 35
Clinical Trials 35
Recent Developments in the Clinical Trials Industry 37
Medical Devices 37
Leading Medical Device Players 38
Recent Developments In The Medical Devices Industry 40
Industry Forecast Scenario 41
Overall Market Forecast 41
Table: Pharmaceutical Sales Indicators 2007-2015 42
Key Growth Factors – Industry 43
Table: Healthcare Expenditure Indicators 2007-2015 44
Table: Government Healthcare Expenditure Indicators 2007-2015 44
Table: Private Healthcare Expenditure Indicators 2007-2015 45
Key Growth Factors – Macroeconomic 46
Table: Malaysia – Economic Activity 47
Prescription Drug Market Forecast 48
Table: Prescription Drug Sales Indicators 2007-2015 49
Patented Drug Market Forecast 50
Table: Patented Drug Market Indicators 2007-2015 51
Generic Drug Market Forecast 52
Table: Generic Drug Sales Indicators 2007-2015 53
OTC Medicine Market Forecast 54
Table: OTC Medicine Sales Indicators 2007-2015 55
Medical Device Market Forecast 56
Table: Medical Devices Sales Indicators 2007-2015 57
Pharmaceutical Trade Forecast 58
Table: Exports and Imports Indicators 2007-2015 59
Other Healthcare Data Forecasts 60
Key Risks To BMI’s Forecast Scenario 61
Competitive Landscape Analysis 62
Domestic Pharmaceutical Industry 62
Foreign Pharmaceutical Industry 63
Pharmaceutical Demand 64
Recent Company Activities 64
Table: Leading Malaysian Pharmaceutical And Healthcare Companies 66
Halal Medicine 66
Traditional Medicine 67
Pharmaceutical Distribution 67
Company Profiles 69
Leading Domestic Manufacturers 69
Pharmaniaga 69
Prime Pharmaceutical 71
Bumimedic Sdn Bhd 72
Hovid 73
Chemical Company of Malaysia (CCM) 75
Kotra Pharma 78
Multinational Companies 80
GlaxoSmithKline (GSK) 80
Pfizer 83
Novartis 85
Merck & Co 87
Sanofi-Aventis 89
Eli Lilly Malaysia 91
Ranbaxy Malaysia 92
Country Snapshot: Malaysia Demographic Data 94
Section 1: Population 94
Table: Demographic Indicators, 2005-2030 94
Table: Rural/Urban Breakdown, 2005-2030 95
Section 2: Education And Healthcare 95
Table: Education, 2000-2003 95
Table: Vital Statistics, 2005-2030 95
Glossary 96
BMI Methodology 98
How We Generate Our Pharmaceutical Industry Forecasts 98
Pharmaceuticals Business Environment Ratings 99
Risk/Reward Ratings Methodology 99
Ratings Overview 99
Table: Pharmaceutical Business Environment Indicators 100
Weighting 101
Table: Weighting Of Components 101
Sources 101
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