BMI View: Despite the Moroccan government announcing a new economic policy prioritising the
innovative biopharmaceutical industry as a strategic sector within the economy, unclear policy formation
processes and underdeveloped institutions will continue to cloud the country’s pharmaceutical investment
outlook in the medium-to-long term. An unstable and inefficient regulatory environment works to create a
tough operating environment for drugmakers – particularly challenging in a market also characterised by
demand side issues such as low health insurance coverage and weak healthcare infrastructure.
Headline Expenditure Projections
? Pharmaceuticals: MAD9.32bn (USD1.11bn) in 2013 to MAD9.58bn (USD1.15bn) in 2014; +2.8% in
local currency terms and +3.1% in US dollar terms.
? Healthcare: MAD57.96bn (USD6.90bn) in 2013 to MAD63.26bn (USD7.56bn) in 2014; +9.1% in local
currency terms and +9.5% in US dollar terms. Forecast higher than in Q214 due to 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: Pharmaceutical Sales, Historical Data And Forecasts (Morocco 2010-2018) 16
Healthcare Market Forecast 16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018) 17
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018) 18
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018) 18
Prescription Drug Market Forecast 19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018) 20
Patented Drug Market Forecast 20
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018) 21
Generic Drug Market Forecast 22
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018) 24
OTC Medicine Market Forecast 24
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Morocco 2010-2018) 25
Pharmaceutical Trade Forecast 26
Table: Pharmaceutical Trade Data And Forecasts (Morocco 2012-2018) 28
Table: Pharmaceutical Trade Data And Forecasts local currency (Morocco 2012-2018) 28
Other Healthcare Data 29
Key Risks To BMI's Forecast Scenario 30
Macroeconomic Forecasts 31
Economic Analysis 31
Table: MOROCCO - GDP BY EXPENDITURE, REAL GROWTH % 37
Industry Risk Reward Ratings 38
Middle East & Africa Risk/Reward Ratings 38
Morocco Risk/ Reward Ratings 46
Rewards 46
Risks 47
Market Overview 49
Industry Trends And Developments 50
Epidemiology 50
Healthcare Sector 53
Healthcare Insurance 56
Recent Health Insurance Developments 59
Research & Development 62
Clinical Trials 63
Regulatory Development 64
Intellectual Property Regime 65
Pricing Regime 65
Reimbursement Regime 67
Competitive Landscape 70
Pharmaceutical Industry 70
Table: Morocco's Select Pharmaceutical Industry Indicators 70
Table: Members Of MIS, 2011 71
Table: Members Of AMIP, 2011 72
Domestic Pharmaceutical sector 72
Foreign Pharmaceutical Companies 73
Pharmaceutical Wholesale 75
Pharmaceutical Retail 76
Company Profile 78
Sothema 78
Laprophan 81
Promopharm 84
Sanofi 86
Pfizer 90
GlaxoSmithKline 93
Ranbaxy 95
Demographic Forecast 97
Table: Morocco's Population By Age Group, 1990-2020 ('000) 98
Table: Morocco's Population By Age Group, 1990-2020 (% of total) 99
Table: Morocco's Key Population Ratios, 1990-2020 100
Table: Morocco's Rural And Urban Population, 1990-2020 100
Glossary 101
Methodology 103
Pharmaceutical Expenditure Forecast Model 103
Healthcare Expenditure Forecast Model 103
Notes On Methodology 104
Risk/Reward Ratings Methodology 105
Ratings Overview 106
Table: Pharmaceutical Risk/Reward Ratings Indicators 106
Indicator Weightings 107

List of Tables

Table: Pharmaceutical Sales, Historical Data And Forecasts (Morocco 2010-2018)
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Morocco 2010-2018)
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018)
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018)
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Morocco 2010-2018)
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Morocco 2010-2018)
Table: Pharmaceutical Trade Data And Forecasts (Morocco 2012-2018)
Table: Pharmaceutical Trade Data And Forecasts local currency (Morocco 2012-2018)
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