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Croatia Pharmaceuticals and Healthcare Report Q4 2008


Description: The Croatia Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Croatia's pharmaceuticals and healthcare industry.

In our new Q408 Business Environment Rankings for the 17 major Central and Eastern Europe (CEE) markets, Croatia slipped to 16th from a more respectable joint 13th place, being judged as having the second-worst operating environment in the region, above only that of neighbouring and more turbulent Serbia. Key drawbacks to investing in the Croatian pharmaceutical market are its small size, modest per capita spending and healthcare debts, as well as some shortcomings of its regulatory environment. Bureaucracy remains entrenched, while the government’s protectionist stance towards the local industry continues to be a cause for concern.

Nevertheless, looking a couple of years into the future, the likely membership of the European Union (EU) has a major potential to improve operating conditions in the country. In the meantime, however, the debts accumulated by the Croatian Institute for Health Insurance’ (HZZO), which is in charge of drug reimbursement, will continue to hamper market development and maturation. The non-payments, underpayments and long payment delays are affecting not only the day-to-day operations of the pharmaceutical manufacturers, but also those of wholesalers and retail pharmacists, especially the independent sector. According to estimates, the country's pharmacies have received around US$17mn less than they are owed from first half of 2008, with the amount owed to them from 2007 topping US$143mn. Consequently, some closures as well as possible drug shortages to healthcare providers remain likely outcomes in the coming months.

On the other hand, the country’s generics pharmaceutical industry is going from strength to strength. The few larger players are increasingly focusing on foreign, largely regional and Commonwealth of Independent States (CIS) markets, in a bid to avoid pressures at home. To this end, in February 2008, the second-largest player - Belupo - merged with Bosnia’s wholesaler Farmavita, as part of its strategy to strengthen its regional position. Around the same time, Belupo signed an exclusive agreement with Turkish drugstore chain Farma-Tek, with the entery into the large Turkish market shortly following that of Poland and Romania.

Belupo is also making considerable inroads in Croatia. In June 2008, the company launched two new products for the treatment of osteoporosis, Aledox and Bonna, addressing an increasing domestic need for such drugs. Similarly, Belupo’s analgesics Neofen and Lupocet emerged as best-selling brands in the first five months of 2008, overtaking products manufactured by the country’s leading pharmaceutical company, Pliva. Pliva’s position in the over-the-counter (OTC) analgesics sector is also being threatened by Macedonian Alkaloid’s Caffetin, which has emerged as the third most popular brand in terms of sales, alongside Bayer’s Aspirin. The competition in the sector is intensifying, especially as the consumption of analgesics actually fell by 21% by volume and 15% by value in the period.


Contents: Executive Summary
Croatia Pharmaceuticals Industry SWOT
Croatia Political SWOT
Croatia Economic SWOT
Croatia Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Central And Eastern Europe Pharmaceutical Business Environment Rankings For Q408
Limits Of Potential Returns
Risks To Realisation Of Returns
Croatia – Market Summary
Regulatory Regime
Table: Croatian Product Approvals, 2006
Intellectual Property Regime
Pricing Regime
Reimbursement Regime
Recent Pricing And Reimbursement Developments
Table: Recently Approved Medicines In Croatia
Industry Trends And Developments
Epidemiology
Table: Leading Causes Of Death In Croatia, 2005
Healthcare Provision
Healthcare Expenditure
Healthcare Debts
Healthcare Reforms
Domestic Pharmaceutical Industry
Domestic Company Activity
Foreign Company Activities
Table: Lukaps’ Time Line
Pharmaceutical Retail
Research And Development Sector
Medical Devices
Industry Forecast Scenario
Overall Market Forecast
Table: Croatia - Drug Expenditure And Prescription Market Indicators, 2004-2012 (HRKmn unless otherwise stated)
Key Growth Factors – Industry
Table: Croatia - Health Expenditure Indicators, 2004-2012 (HRKmn unless otherwise stated)
Key Growth Factors – Macroeconomic
Table: Croatia - Economic Activity
Prescription Market Forecast
Table: Croatia - Prescription Market Indicators, 2004-2012 (HRKmn unless otherwise stated)
OTC Market Forecast
Table: Croatia – OTC Market Indicators, 2004-2012 (HRKmn unless otherwise stated)
Patented Market Forecast
Table: Croatia – Patented Market Indicators, 2004-2012 (HRKmn unless otherwise stated)
Generics Market Forecast
Table: Croatia – Generics Market Indicators, 2004-2012 (HRKmn unless otherwise stated)
Export/Import Forecasts
Table: Croatia – Pharmaceutical Trade Indicators, 2004-2012 (HRKmn unless otherwise stated)
Other Healthcare Forecasts
Table: Croatia – Other Healthcare Indicators, 2004-2012 (HRKmn unless otherwise stated)
Key Risks To Forecast Scenario
Competitive Landscape
Company Monitor
International Company Profiles
GlaxoSmithKline
Pfizer
Sanofi-Aventis
Novartis
Merck & Co
Krka
Indigenous Company Profiles
Pliva
Belupo
Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources


Companies Mentioned GlaxoSmithKline Pfizer Sanofi-Aventis Novartis Merck & Co Krka Pliva Belupo


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