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Slovenia Pharmaceuticals and Healthcare Report Q4 2008
Business Monitor International, Oct 2008, Pages: 65
This Slovenia Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Slovenia's pharmaceuticals and healthcare industry.
In the Business Environment Ranking matrix adjusted for this quarter, Slovenia continued to slip down the table ranking the 17 regional markets surveyed in Central and Eastern Europe (CEE). In Q408, Slovenia is ranked joint thirteenth, down from a ninth position in Q308 and sixth earlier in the year. However, the change is more a function of the improvement of business environments in other CEE markets than the worsening of conditions in Slovenia. Nevertheless, the country’s attractiveness will continue to be negatively affected by its limited population number, negligible population growth and the low growth forecasts of a relatively mature market.
Nevertheless, this is not to say that drugmakers cannot find any commercial opportunities in Slovenia. The country’s developed private insurance coverage and established trade regimes with Western Europe allow for good placement of novel drugs onto the market, especially as international pressure eventually results in the improvement of its intellectual property (IP) regime. Additionally, while Slovenia is judged by a new survey of life expectancy to be the healthiest of the 10 new European Union (EU) members that entered the Bloc in 2004, its BMI's Burden of Disease Database (BoDD) indicates that Slovenia lags behind Cyprus and Malta in terms of the number of disability-adjusted life years (DALYs) lost. This indicates existing opportunities for companies active in chronic disease segments in particular.
However, difficult conditions in the Slovenian pharmaceutical market cannot be ignored. For some months now, Krka – one of the two key pharmaceutical producers in the country – has intensified its focus on foreign markets. Most recently, Krka’s chief executive indicated that the company may be looking to take over a larger pharmaceutical firm, as well as a smaller company in the region. Krka is reportedly willing to pay up to US$2.33bn for the acquisition. Previously, in April 2008, Krka opened anew business centre in Former Yugoslav Republic (FYR) of Macedonia’s capital, while, in November 2007, it acquired German generics maker TAD Pharma. Krka also recently became a minority owner in two private pharmaceutical and chemical companies in China.
The local market, which features a strong generics presence, is likely to become even more competitive following the June 2008 acquisition of Merck KGaA's CEE generics business by US drugmaker Mylan. The US player had previously already purchased the German firm's generics businesses in Western Europe, Asia Pacific, Africa and North America, consolidating its position as a top three player in four major EU markets, including the United Kingdom. While Mylan has little experience of operating in CEE, the acquired Merck KGaA’s operations and Mylan’s controlling interest in Indian active pharmaceutical ingredient (API) manufacturer Matrix Laboratories should allow the company to compete effectively against local rivals and multinationals alike.
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