Novo Nordisk is the future winner in the global pharmaceutical market
The Danish pharmaceutical company Novo Nordisk holds a strong position on the global pharmaceutical market, which is predicted a significant growth.
According to PricewaterhouseCoopers the value of the global pharmaceutical market will multiply by threefold during the next 13 years. The US market and the so-called E7 countries, where Novo Nordisk has a strong presence, will experience the largest growth.
Erik Todbjerg, Partner in PricewaterhouseCoopers, comments that a very forcefull growth in the pharmaceutical market will occur, mainly because of the ageing population in industrialized world, where USA is a determinant factor. Furthermore, he adds that the E7 countries will be the next driving force due to general raise in consumption of medicine.
Novo Nordisk well placed on important markets
Several experts estimate that in the competition with other pharmaceutical companies, Novo Nordisk enjoys a strong position, owing to the fact that they have an established dominance and own independent sales organisations in USA and the E7 countries.
Erik Todbjerg even underlines that Novo Nordisk is a league of their own.
Novo Nordisk reports that the E7 countries stands at 10 per cent of the achieved turnover (DKK 38.7 billion in 2006) and that these markets are characterized by a growth in sales at 25-30 per cent.
Jesper Højland, International Marketing Director at Novo Nordisk, believes that within a ten-year period, the E7 countries will be at the company's top 10 of countries with largest sales.
The E7 countries consist of China, India, Russia, Brazil, Mexico, Indonesia and Turkey.
Read the full story at business.dk (in Danish)
