BMI View: We expect poor economic conditions in Morocco will lead to continuing decline in
pharmaceutical imports and spending in the short term. However, the rate of decline in pharmaceutical
sales is starting to slow, indicating that conditions for Moroccan drugmakers are beginning to improve as
the growing middle class drives demand. Our outlook is therefore more positive over the long term.
Meanwhile, the patented drugs market will continue to take the largest percentage of overall
pharmaceutical sales, but will start to lose its share of the total as the government continues to promote the
use of generic products, leading to increased substitution of branded drugs.
Headline Expenditure Projections
? Pharmaceuticals: MAD9.32bn (US$1.11bn) in 2013 to MAD9.49bn (US$1.13bn) in 2014; +1.7% in
local currency terms and +2.0% in US dollar terms.
? Healthcare: MAD54.83bn (US$6.53bn) in 2013 to MAD56.48bn (US$6.74bn) in 2014; +3.0% in local
currency terms and +3.2% in US dollar terms. Forecast higher than Q413 on account of upward
revision of historical figures for pharmaceutical market.

Table Of Contents

BMI Industry View 7
SWOT 9
Political 11
Economic 12
Business Environment 13
Industry Forecast 14
Pharmaceutical Market Forecast 14
Table: Morocco Pharmaceutical Sales, Historical Data and Forecasts 16
Healthcare Market Forecast 17
Table: Morocco Healthcare Expenditure Trends, Historical Data and Forecasts 18
Table: Morocco Government Healthcare Expenditure Trends, Historical Data and Forecasts 18
Table: Morocco Private Healthcare Expenditure Trends, Historical Data and Forecasts 19
Prescription Drug Market Forecast 19
Table: Morocco Prescription Drug Market Indicators, Historical Data and Forecasts 20
Patented Drug Market Forecast 21
Table: Morocco Patented Drug Market Indicators, Historical Data and Forecasts 22
Generic Drug Market Forecast 23
Table: Morocco Generic Drug Market Indicators, Historical Data and Forecasts 25
OTC Medicine Market Forecast 25
Table: Morocco Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts 26
Pharmaceutical Trade Forecast 27
Table: Morocco Pharmaceutical Trade Data And Forecasts (US$mn) 29
Table: Morocco Pharmaceutical Trade Data And Forecasts (MADmn) 29
Other Healthcare Data 29
Key Risks To BMI's Forecast Scenario 30
Macroeconomic Forecasts 32
Economic Analysis 32
Table: Morocco - Real Growth By Sector, % chg y-o-y 33
Table: Morocco - GDP By Expenditure, Real Growth % 41
Industry Risk Reward Ratings 42
Middle East And Africa Risk/Reward Ratings 42
Morocco Risk/ Reward Ratings 50
Rewards 50
Risks 51
Market Overview 53
Industry Trends And Developments 54
Epidemiology 54
Healthcare Sector 57
Healthcare Insurance 60
Recent Health Insurance Developments 63
Research & Development 66
Clinical Trials 67
Regulatory Development 68
Intellectual Property Regime 69
Pricing Regime 69
Reimbursement Regime 71
Competitive Landscape 74
Pharmaceutical Industry 74
Table: Morocco's Select Pharmaceutical Industry Indicators 74
Table: Members Of MIS, 2011 75
Table: Members Of AMIP, 2011 76
Domestic Pharmaceutical sector 76
Foreign Pharmaceutical Companies 77
Pharmaceutical Wholesale 79
Pharmaceutical Retail 80
Company Profile 82
Sothema 82
Laprophan 85
Promopharm 88
Sanofi 90
Pfizer 94
GlaxoSmithKline 97
Ranbaxy 99
Demographic Forecast 101
Demographic Outlook 101
Table: Morocco's Population By Age Group, 1990-2020 ('000) 102
Table: Morocco's Population By Age Group, 1990-2020 (% of total) 103
Table: Morocco's Key Population Ratios, 1990-2020 104
Table: Morocco's Rural And Urban Population, 1990-2020 104
Glossary 105
Methodology 107
Pharmaceutical Expenditure Forecast Model 107
Healthcare Expenditure Forecast Model 107
Notes On Methodology 108
Risk/Reward Ratings Methodology 109
Ratings Overview 110
Table: Pharmaceutical Risk/Reward Ratings Indicators 110
Indicator Weightings 111

List Of Tables

Table: Morocco Pharmaceutical Sales, Historical Data and Forecasts
Table: Morocco Healthcare Expenditure Trends, Historical Data and Forecasts
Table: Morocco Government Healthcare Expenditure Trends, Historical Data and Forecasts
Table: Morocco Private Healthcare Expenditure Trends, Historical Data and Forecasts
Table: Morocco Prescription Drug Market Indicators, Historical Data and Forecasts
Table: Morocco Patented Drug Market Indicators, Historical Data and Forecasts
Table: Morocco Generic Drug Market Indicators, Historical Data and Forecasts
Table: Morocco Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
Table: Morocco Pharmaceutical Trade Data And Forecasts (US$mn)
Table: Morocco Pharmaceutical Trade Data And Forecasts (MADmn)
Table: Morocco - Real Growth By Sector, % chg y-o-y
Table: Morocco - GDP By Expenditure, Real Growth
%Table: Morocco's Select Pharmaceutical Industry Indicators
Table: Members Of MIS, 2011
Table: Members Of AMIP, 2011
Table: Morocco's Population By Age Group, 1990-2020 ('000)
Table: Morocco's Population By Age Group, 1990-2020 (% of total)
Table: Morocco's Key Population Ratios, 1990-2020
Table: Morocco's Rural And Urban Population, 1990-2020
Table: Pharmaceutical Risk/Reward Ratings Indicators