Pharmaceutical exports down 50% in Q3 - Israel Business, Ynetnews

   Israel News

Israel News
World News
Israel Opinion
Israel Business
Israel Culture
Israel Travel
Troubling Figures

Medicine exports cut by half Photo: Index Open
Medicine exports cut by half Photo: Index Open

Pharmaceutical exports down 50% in Q3

Israeli exports of medicines total $995 million in third quarter compared to $1.95 billion in preceding quarter

Navit Zommer
Published: 10.21.13, 14:46 / Israel Business

Israel's pharmaceutical exports fell 50% in the third quarter of 2013 from the previous quarter, according to figures released by the Central Bureau of Statistics.


The export of medicines, most of which are manufactured by Teva, totaled $995 million in the third quarter compared to $1.95 billion in the preceding quarter.


Teva working on brain disorder medicines / Reuters
Israel-based drug maker expects to complete development of new medications in next few years aimed at treating brain disorders as global population ages, CEO says
Full story
The drop in pharmaceutical exports led to a 20% drop in high-tech exports in the third quarter (as medicines are included in the high-tech category), totaling $4.5 billion.


The second quarter of 2013 saw a 17% drop in pharmaceutical exports compared to the same period in 2012, after the first quarter of the year recorded a sharp rise of 34%. Since the beginning of the year (January through September), however, there has been a 16% drop in dollars in pharmaceutical exports.


According to Ramzi Gabbay, chairman of the Israel Export and International Cooperation Institute (IEICI), "These are troubling figures, which point to increasing difficulties in dealing with the conditions and changes in the international market.


"Big companies' share in exports has reached a critical mass in recent years. The development of a crisis in one of these companies could lead to additional shocks in exports and reflect on the economy," he warned.



commentcomment   PrintPrint  Send to friendSend to friend   
Tag with Bookmark to

1 Talkbacks for this article    See all talkbacks
Please wait for the talkbacks to load


RSS RSS | About | Contact Us | Privacy Policy | Terms of use | Advertise with us | Site Map

Site developed by  YIT Advanced Technology Solutions