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Opportunities in Emerging Markets - Central and Eastern Europe, Russia, and Ukraine
Decision Resources, Inc, June 2011
What opportunities are available for pharmaceutical companies to pursue in the emerging markets of Central and Eastern Europe (CEE) compared with advanced European markets and the emerging and developing economies of Asia Pacific and Latin America? Owing to their rapid growth, most pharmaceutical companies are focusing on the emerging markets of Brazil, Russia, India, China, Mexico, and Turkey (BRIC-MT) to increase global and regional drug sales. How do the emerging markets of CEE, Russia, and Ukraine (CEE-RU) compare with BRIC-MT and advanced markets? Most importantly, what information do companies use when deciding to choose one country market over another?
In this report, we explore the emerging CEE-RU markets and discuss strategies and opportunities for pharmaceutical companies. The CEE markets we analyze are Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Hungary, Kosovo, Latvia, Lithuania, Former Yugoslav Republic of Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia, and Turkey. We also analyze Russia and Ukraine, which are two emerging markets in the Commonwealth of Independent States (CIS) that are in close geographic proximity to CEE. We compare the emerging CEE-RU markets to the advanced European markets of France, Germany, Italy, Spain, and the United Kingdom; the advanced economies of Japan and the United States; and, in most cases, to the emerging BRIC-MT economies.
Questions Answered in this report:
- The International Monetary Fund forecasts uneven economic growth in Europe for 2011. What is the projected growth in CEE economies, and how does it compare with expected growth in advanced European economies? Which CEE economies will have the fastest growth in 2011 over 2010?
- The World Economic Forum (WEF) assesses the strengths and weaknesses of countries around the world and issues an annual global competitiveness index (GCI) that ranks country economies. How do the emerging markets of CEE-RU compare with those of BRIC-MT countries? How do they compare with the advanced economies in Europe, Japan, and the United States?
- In 2009, Sanofi made targeted acquisitions of large generics companies in CEE and Brazil. What is the company’s current view on generics? How successful is the CEE acquisition? What is the company’s new branding strategy?
- From 1995 to 2011, Teva Pharmaceutical Industries acquired 21 companies. How did these acquisitions impact the company’s sales and, most importantly, its net income? What game is Teva not interested in playing? What is the company’s emerging market strategy?
- By 2013, Merck & Co. expects emerging markets to account for more than 25% of the company’s pharmaceuticals and vaccine sales. How is Merck driving growth? How can innovative brands be successful in emerging markets?
- Amgen has lagged behind many other companies in entering emerging markets. How has Amgen organically grown sales in Eastern Europe? What countries are now home to new Amgen affiliates? What plans does the company have for non-organic growth in emerging markets?
- Eisai has produced a new midterm business plan called Hayabusa. What is the strategy for emerging markets such as Turkey and Poland? How many emerging markets does Eisai plan to target?
- Astellas Pharma has wholly owned subsidiaries in Croatia, Bulgaria, and Romania and some operations in Bosnia and Herzegovina. What new entity did the company form in early 2011? What is the company’s strategy for CEE markets?
- From 2009 to 2010, Eli Lilly’s volume growth accelerated from 4% to 20% in Turkey. What emerging markets does Lilly target? What is Lilly’s primary strategy for these markets?
Scope:
Geographies: EU, Eurozone; CEE markets of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Hungary, Kosovo, Latvia, Lithuania, Former Yugoslav Republic of Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia, and Turkey; Commonwealth of Independent States (CIS) markets of Russia and Ukraine; advanced European markets of France, Germany, Italy, Spain, and the United Kingdom; advanced economies of EU, Japan, and the United States; emerging markets of Brazil, Russia, India, China, Mexico, Turkey (BRIC-MT).
Emerging versus advanced market comparisons: Global competitive index, population, gross domestic product (GDP), GDP per capita, health expenditures, infant mortality, life expectancy, correlation of worker productivity to pay, labor force female-to-male ratio, quality of math and science education, prevalence of trade barriers, number of clinical trials, intellectual property protection, foreign ownership of companies, favoritism in decisions by government officials, utility patents, intensity of local competition, extent of market dominance, financial services, local equity markets, venture capital, size of pharmaceutical market.
Pharmaceutical industry: Recent deals, healthcare events, clinical trials, multinational corporations (MNCs), domestic companies, accelerating growth, driving sales, generic strategies, targeted acquisitions, generics branding, mergers and acquisitions (M&As), drug portfolios, innovative brands, market share, branded generics, in-line products, lifecycle management strategies, regional partnerships, investment priorities, regional management.
Expert insight: Barrie G. James, Ph.D., provides insight on recent pharmaceutical news and healthcare events in Russia and certain Central and Eastern European countries. Dr. James is the principal of Pharma Strategy Consulting in the United Kingdom. Previously, he held executive positions at Ciba-Geigy, Merck & Co., Syntex, and Schering-Plough in strategic planning, marketing, and business development.
Exhibits: 25 data-rich tables and figures.
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