Boston, MA -- (ReleaseWire) -- 06/06/2014 -- BMI View: Our above-consensus outlook for economic growth in Romania has borne out, with positive implications for the pharmaceutical sector. With wages set to rise and consumer spending continuing to grow at a rapid clip, consumer non-discretionary spending is set to tick higher. We see over-the-counter medicines and potentially generic medicines benefitting from an improving consumer picture. Over the longer term, Rom ania's competitive labour costs are set to catalyse an influx of manufacturing into the country, with positive implications for healthcare and pharmaceutical spending.
Headline Expenditure Projections
- Pharmaceuticals: RON13.96bn (US$4.17bn) in 2013 to RON14.63bn (US$4.22bn) in 2014; +4.8% in local currency terms and 1.3% in US dollar terms. US dollar forecast revised down from Q114 due to leu depreciation.
- Healthcare: RON31.95bn (US$9.54bn) in 2013 to RON33.16bn (US$9.57bn) in 2014; +3.78% in local currency terms and 0.27% in US dollar terms.
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Romania has a RRR score of 55.1 out of 100, making it the seventh-most attractive pharmaceutical market in the Central and Eastern Europe region. Although over the long term Romania promises a positive growth story, punitive taxes, pricing controls and a lack of funding by the state for reimbursing patients will moderate the market's attractiveness to drugmakers in the short term
Key Trends And Developments
- The Ministry of Health withdrew two draft amendments that would have increased the reimbursement budget and enabled favourable pricing structures for drugmakers, drawing criticism from the local drugmakers' association.
- Sanofi transferred the packaging and production operations of 22 of its branded products to Romania, highlight the country's position as an export hub.
- Romania faces a brain drain of skilled medical professionals, as border restrictions are lifted in all Western European countries.
- Export bans on specific cancer medicines and hepatitis drugs have been...
The Romania Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Romania Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Romanian pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Romania to test other views - a key input for successful budgeting and strategic business planning in the Romanian pharmaceutical and healthcare market.
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