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Czech Republic Pharmaceuticals and Healthcare Report Q2 2010
Business Monitor International, April 2010, Pages: 82
The Czech Republic Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Czech Republic's pharmaceuticals and healthcare industry.
Despite a challenging few years, characterised by the introduction of controversial prescription fees and economic downturn, we calculated that the value of the Czech Republic’s pharmaceutical market rose by 9.0% year-on-year (y-o-y) in 2009, as measured in local currency terms, to over CZK79bn (US$4bn). This estimation is upheld by statistics released by local agencies as well as by IMS Health, which suggest value increases, driven by the use of more expensive treatments, despite volumes dropping. Looking forward, we forecast a compound annual growth rate (CAGR) of 5.85% in local currency from 2009 to 2014, when the market will reach a value of CZK105.17bn (US$6.02bn) at consumer prices. Over our longer, ten-year forecast period, the rate of growth will slow to 5.11%, largely due to the volume sales decline, an emphasis on the use of generics as well as on the rational utilisation of medicines.
In the reports Business Environment Ratings for Q210, the Czech Republic occupies the top position among the 20 Emerging Europe markets surveyed, having previously been second. The region as a whole has improved its overall figure for this quarter, although other more promising emerging markets, in Asia in particular, will be prioritised for expansion by multinationals. The country’s scores for the Risks category, indicating a high degree of operational stability, are stronger than its Limits, which are brought down by its relatively modest forecast growth of its pharmaceutical market values, as well as some outstanding issues regarding patent protection.
Despite 7% reimbursement price reductions actioned in early 2010, maximum consumer prices actually rose. The changes, applied to products that had not undergone the regulatory agency’s annual review, have resulted in maximum pharmacy prices of some 520 drugs rising (albeit minimally), with the remaining 440 or so mostly declining. The new measures are almost identical in nature to those implemented at the beginning of 2009, which introduced 5% reductions. Dozens of drugs consequently disappeared from the market in 2009, with the Czech Association of Pharmaceutical Companies (CAFF), which represents the generics industry, stating that a 7% reduction would lead to more products being withdrawn in 2010, due to relatively low margins under which the industry operates.
In the most notable company news, Czech pharmaceutical company Medis International opened a packaging plant in the country for niche generic drugs produced in North Africa. The company invested EUR7.7mn (US$10.5mn) in the Bolatice facility, in the east of the country, which opened in December 2009 and is compliant with international standards. The plant, which will package Medis’s immunosuppressant drugs, used to block tissue rejection after transplant surgery, is not expected to have an impact on overall export volumes from the country, which are forecast to increase at a CAGR of 9% in US dollars over the coming five years.
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