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Slovenia Pharmaceuticals and Healthcare Report Q3 2007Published by: Business Monitor International Published: Nov. 6, 2007 - 58 Pages Table of Contents
AbstractSlovenia is one of the more advanced markets in the Central and Eastern European (CEE) region. Itslonger-term prospects are, however, hampered by a small population size (of only around 2mn), itsmaturity as well as by certain shortcomings of its intellectual property (IP) regime pertaining topharmaceuticals. On a positive note, the relatively wealthy population, high healthcare standards and highprices of branded generics will continue to provide support for a steady growth over the coming years.Prescription drugs will continue to account for the majority of the market by value, which are - at 90% ofthe total - higher than in other CEE countries. The situation is partly blamed on over-prescribing andoveruse of hospitals, although the need for healthcare and pharmaceutical cost containment will over timelead to the reduction in the share of prescription drugs, providing impetus for over-the-counter (OTC)market growth. On the other hand, the long tradition of generic pharmaceutical manufacturing,disadvantages facing foreign manufacturers and the high percentage of generics (many of which are highpricedbranded generics) as a share of the total market (estimated at 32% in 2006) will continue tostimulate the growth of the generics sector.In the adjusted Q307 BMI’s Business Environment Rankings, Slovenia’s position worsened from jointeleventh (with Hungary) out of 15 countries surveyed to joint thirteenth (with Croatia). Slovenia actuallyslipped from joint sixth (with Poland) since the start of the year, with the situation mostly reflectingconsiderable improvements recorded in its CEE peers. On the positive side, the expansive privateinsurance coverage and established trade regimes with Western Europe (boosted by the recent entry intothe eurozone) allow for good placement on novel drugs onto the market. The bulk of Slovenia’s domestic production, which has traditionally been dominated by Krka and Lek, isdestined for export, given the small size of the home market. Domestic consumption is a fairly even mixof imported drugs and locally manufactured generics. Most major multinationals are present on theSlovenian market, although very few have a manufacturing presence, largely as a result of the country’shistorically IP laws, the country’s small size and its proximity to Western Europe. The major exception isNovartis, with its generics subsidiary Sandoz present in Slovenia since its acquisition of Lek in late2002. Get Full Details About This Report >> |
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