Greece Pharmaceuticals and Healthcare Report Q1 2008

Published by: Business Monitor International

Published: Feb. 25, 2008 - 68 Pages

Table of Contents

Executive Summary

Greece Pharmaceuticals And Healthcare Industry SWOT

Pharmaceutical Business Environment Ratings

Pharmaceutical Ratings - Revised Methodology

Ratings Overview

Table: Pharmaceutical Business Environment Indicators

Weighting

Table: Weighting Of Components

Greece - Pharmaceutical Business Environment Rating

Table: Business Environment Rankings

Limits Of Potential Returns

Risks To Realisation Of Returns

Greece - Market Summary

Regulatory Regime

Intellectual Property Regime

Pricing Regime

Table Pharmaceutical Pricing In Greece

Reimbursement Regime

Parallel Trade

Industry Developments

Health Profile

Healthcare System

Secondary Care

Healthcare Expenditure

Healthcare Reforms

Pharmaceutical Industry

Wholesale And Retail Sectors

Recent Pharmaceutical Industry Developments

Industry Forecast Sce29

Overall Market Forecast

Table: Greece’s Drug Market Forecast

Key Growth Factors - Industry

Table: Greece’s Health Expenditure Forecasts

Key Growth Factors - Macroeconomic

Table: Greece - Economic Activity

Prescription Market Forecast

Table: Greece’s Prescription Drugs Market Forecast (US$mn unless otherwise stated)

OTC Market Forecast

Table: Greece’s OTC Drugs Market Forecast (US$mn unless otherwise stated)

Generics And Patented Market Forecasts

Table: Generics And Patented Market Forecasts

Export/Import Forecasts

Table: Greece’s Pharmaceuticals Exports And Imports Forecasts (US$mn)

Greece Pharmaceuticals & Healthcare Report Q1 2008

Other Healthcare Data Forecasts

Table: Greece’s Other Healthcare Data Forecasts

Key Risks To BMI Forecast

Competitive Landscape.45

Table: Top 10 Best-Selling Pharmaceuticals In Greece, 2

Table: Top 10 Pharmaceutical Companies In Greece, 2006

Company Monitor

Multinational Company Profiles

GlaxoSmithKline

Pfizer

Novartis

Sanofi-Aventis

Merck & Co

Abbott Laboratories

Indigenous Company Profiles

Vianex

Lavipharm

Gerolymatos SA

Genesis Pharma

Genepharm

Pharmathen Pharmaceuticals

Kleva

BMI Forecast Modelling

How We Generate Our Industry Forecasts

Pharmaceutical Industry

Sources

Abstract

The Greek pharmaceutical market remains one of the least-developed of the European Union (EU)-15markets. The generics segment accounts for only around 10% of the total market by value, although as thegovernment realises the amount of potential savings made from higher usage of copy drugs, their sharewill rise over the coming years. The fact that they remain priced at 80% of the original will also supportthis trend. However, epidemiological trends and population ageing will provide an impetus for growth ofthe patented market segment, especially on the hi-tech end of the scale.

Nevertheless, economic reforms - especially in the areas of social insurance, welfare and the labourmarket, which are currently underway in the country - will continue to ensure that pharmaceutical-marketgrowth experiences a gradual upward trend over the next five years. In addition, the government isseeking to improve the monitoring of public tendering, worth more than US$1.3bn per annum, in order toeradicate corruption. However, as the authorities clamp down on overprescribing and pharmaceuticalfraud, some companies may record a loss of revenue in certain therapeutic areas, such as antibiotics.BMI’s adjusted Business Environment Rankings for the Central Eastern Europe (CEE) region in Q108places Greece in pole position, ahead of the 14 other markets surveyed. The country boasts higher percapita expenditure on drugs, as a result of a more advanced economy, than the other markets in theregion. Nevertheless, in comparison to Western Europe, the Greek pharmaceutical market remainsrelatively minor. In addition, some multinationals remain reluctant to launch innovative medicines in thecountry, due to marketing delays, although the 2006 improvements to the reimbursement system are apositive development. Similarly, while the recent changes to the pricing and reimbursement systemresulted in some price rises, the country remains one of the sources of parallel-traded medicines.The country’s pharmaceutical industry is relatively fragmented. Production remains dominated by somelocal 30 firms, which control 80% of the local market in volume terms. As part of the wider pricing andreimbursement changes in 2006, prices of domestically-manufactured branded drugs are now the same asthose of equivalent imported drugs, reversing the previously discriminatory policy towards localcompanies. Major multinationals, which are mostly present through imports, jointly account for abouttwo-thirds of the market in value terms.

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