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Slovakia Pharmaceuticals and Healthcare Report Q3 2007Published by: Business Monitor International Published: Dec. 13, 2007 - 59 Pages Table of Contents
AbstractSlovakian pharmaceutical market remains one of the least attractive amongst its Central and EasternEuropean peers, primarily due to its small size and a sizeable healthcare debt. The new left-leaninggovernment, elected in 2006, has passed a basket of measures in an attempt to achieve a better financialbalance, although some of the changes have been strongly opposed. Most recently, the governmentbanned profit-making in the healthcare insurance sector, with the aim of freeing up more funds forpatients’ needs, but also disincentivising the companies in the sector by removing competition andessentially their reason for operating.In terms of market segmentation, the generics market represents some 29 percent of the total by value.However, the new anti-Bolar (and thus anti-EU legislation) law threatens to delay the entry of copyproducts onto the market, to the detriment of the local as well as international generics players. In themeantime, the control of the local industry is increasingly passing to foreign hands. On a positive note,the improvement in the function of the national drugs authority and the elimination of consultation feeswill provide incentives for companies wishing to invest in the market. The new BMI’s Business Environment Rankings for Q307 places Slovakia 12th out of the 15 Central andEastern European (CEE) states surveyed, which represents an improvement on the 13th place from theprevious quarter. Slovakia is now ranked above Slovenia, but continues to trail behind the advancedregional markets such as Hungary as well as its most immediate neighbour, the Czech Republic. Some ofthe barriers to further market development are, regulatory infrastructure shortcomings, preferentialtreatment for the domestic industry as well as counterfeiting, although Slovakia is not listed in thePhRMA’s 2006 watch list of countries. Given the increased integration of the country into the EU, with the euro adoption scheduled for 2009, therole of foreign companies and foreign-made pharmaceuticals is expected to become more prominent inthe coming years. Despite strong international expansion of local players - most notably the local leaderZentiva (which is, however, now headquartered in the Czech Republic) - imports are expected tostrengthen their position in the local market. Get Full Details About This Report >> |
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