[April 12, 2012]

Research and Markets: Oman Pharmaceuticals and Healthcare Report Q2 2012 - A Tax to Be Put On Tobacco Products at End Of 2012

Research and Markets (http://www.researchandmarkets.com/research/1f61e1fd/oman_pharmaceutica) has announced the addition of the "Oman Pharmaceuticals and Healthcare Report Q2 2012" report to their offering.

BMI View: Oman's 2012 budget allocated a greater sum of money to the healthcare sector, in line with BMI's view that the Arab spring would lead to greater spending in this segment. The Omani government has also increased the allocation for social security and welfare by 74% y-o-y to OMR385mn (US$1.01bn). Expenditure on the health sector is an estimated OMR500mn (US$1.32bn), which is five percent of total public expendture. Furthermore, five hospitals are expected to be built at a cost of OMR238mn (US$626.3mn).

Headline Expenditure Projections

- Pharmaceuticals: OMR125mn (US$326mn) in 2011 to OMR136mn (US$358mn) in 2012; 8.6% in local currency terms and 10.0% US dollar terms. Forecast up from Q112, due to large public healthcare budget.

- Healthcare: OMR671mn (US$1.74bn) in 2011 to OMR730mn (US$1.92bn) in 2012; 8.8% in local currency terms and 10.2% in US dollar terms. Expenditure in 2011 up from Q112, due to macroeconomic factors.

- Medical devices: OMR38mn (US$98mn) in 2011 to OMR41mn (US$108mn) in 2012; 9.3% in local currency terms and 10% in US dollar terms. Forecast revised upwards slightly from Q112 due to large public healthcare budget.

Key Trends & Developments

- In January 2012, Oman's doctors went on strike briefly calling for better pay and working conditions. The doctors have since returned to work opting to postpone strike action until June 2012.

- UK construction company Atkins has completed the master plan for the US$1bn Medical City project in Salalah, Oman.

Companies Mentioned

Zynova/Oman Pharmaceutical Products Company (OPPC)

National Pharmaceutical Industries(NPI) Novartis

GlaxoSmithKline

Sanofi-Aventis

Johnson & Johnson

For more information visit http://www.researchandmarkets.com/research/1f61e1fd/oman_pharmaceutica

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