FCP OP MEDICAL BioHealth Trends FCP OP ... - Sal. Oppenheim
FCP OP MEDICAL BioHealth Trends FCP OP ... - Sal. Oppenheim
FCP OP MEDICAL BioHealth Trends FCP OP ... - Sal. Oppenheim
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OUTLOOK<br />
Basis for outperformance of Health Care Sector<br />
� New product cycle starts<br />
› Revolutionary treatment concepts for many fields in therapy<br />
� Peak of patent expiration in 2012 highlights pipelines<br />
› Sector will regain growth characteristics (FDA more efficient in 2011)<br />
� Transformation of drug industry<br />
› Big Pharma reduces R&D and focuses on severe chronic diseases (inter alia through M&A)<br />
� Cost benefit analysis for new therapies<br />
› NICE (VBP), IQWiG, IPAB – boosts new, more sophisticated special drugs (inter alia Orphan)<br />
� Global growth of health care spending (% GDP)<br />
› Emerging Markets, Demographics (>65 years), Universal Coverage<br />
<strong>Trends</strong> bring forward young, emerging companies with innovative products<br />
Source: Medical Strategy GmbH, Gräfelfing near Munich<br />
06/30/2012| Page 43 <strong>Oppenheim</strong> Asset Management Services S.à r.l.
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