Romania Pharmaceuticals and Healthcare Report Q4 2010

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Romania's drug market expenditure was RON8.42bn (US$3.05bn) in 2009. Out of the 20 Central and Eastern European (CEE) countries analysed by BMI, this figure positions Romania seventh in terms of market size, However, per-capita spending on pharmaceuticals of just US$141.9 in 2009 places Romania 14th in the region for this indicator and reflects the limited funding available for high-value innovative drugs. The long-term prospects for Romania's attractiveness to pharmaceutical companies are dependent on the implementation of proposals for healthcare reform, which is expected to be completed by the end of 2010. While there are significant downsides to the proposals, BMI believes they are necessary to ensure the long-term financial sustainability of the healthcare in Romania, which will ultimately benefit the pharmaceutical companies operating in the country. While Romania's predominantly publicly-financed healthcare service has been chronically underfunded for many years, action will be forced as a result of extensive budget deficits in the healthcare system that have built up over the last two years. Worryingly, the last trimester of 2009 was financed with credits from the 2010 budget, and many had feared that the entire 2010 budget would only last until July. While Romania's healthcare system faces immense challenges in the short to medium term, it is unlikely that the provision of medical services will collapse due to budget shortfalls. In January 2010, a source at the Romanian College of Physicians reported to the Canadian Medical Association Journal (CMAJ) that funding for the healthcare budget would only last until mid 2010, and that the system was facing imminent collapse. At the time, Romania's minister of health, Atilla Cseke, did not dispute the suggestion. Paradoxically, the fact the country's healthcare system has been so chronically underfunded over the last decade makes it less likely that continued funding shortfalls will push the system over the edge. In the short term, Romania's health minister hopes total collapse will be prevented with more efficient use of existing funds, the elimination of waste and introduction of co-payments. However, in the long term BMI believes that only more substantial funding changes will avert failure in the medical services sector. Reduced revenues from the country's National Health Insurance Fund (CNAS), which is primarily financed by wage contributions, have been hit extensively as Romania went through a recession in 2009 and suffered from higher levels of unemployment.

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Romania Pharmaceuticals and Healthcare Report Q4 2010

  1. 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!Romania Pharmaceuticals and Healthcare Report Q4 2010Published on September 2010 Report SummaryRomanias drug market expenditure was RON8.42bn (US$3.05bn) in 2009. Out of the 20 Central and Eastern European (CEE)countries analysed by BMI, this figure positions Romania seventh in terms of market size, However, per-capita spending onpharmaceuticals of just US$141.9 in 2009 places Romania 14th in the region for this indicator and reflects the limited fundingavailable for high-value innovative drugs.The long-term prospects for Romanias attractiveness to pharmaceutical companies are dependent on the implementation ofproposals for healthcare reform, which is expected to be completed by the end of 2010. While there are significant downsides to theproposals, BMI believes they are necessary to ensure the long-term financial sustainability of the healthcare in Romania, which willultimately benefit the pharmaceutical companies operating in the country. While Romanias predominantly publicly-financedhealthcare service has been chronically underfunded for many years, action will be forced as a result of extensive budget deficits inthe healthcare system that have built up over the last two years. Worryingly, the last trimester of 2009 was financed with credits fromthe 2010 budget, and many had feared that the entire 2010 budget would only last until July.While Romanias healthcare system faces immense challenges in the short to medium term, it is unlikely that the provision of medicalservices will collapse due to budget shortfalls. In January 2010, a source at the Romanian College of Physicians reported to theCanadian Medical Association Journal (CMAJ) that funding for the healthcare budget would only last until mid 2010, and that thesystem was facing imminent collapse. At the time, Romanias minister of health, Atilla Cseke, did not dispute the suggestion.Paradoxically, the fact the countrys healthcare system has been so chronically underfunded over the last decade makes it less likelythat continued funding shortfalls will push the system over the edge.In the short term, Romanias health minister hopes total collapse will be prevented with more efficient use of existing funds, theelimination of waste and introduction of co-payments. However, in the long term BMI believes that only more substantial fundingchanges will avert failure in the medical services sector. Reduced revenues from the countrys National Health Insurance Fund(CNAS), which is primarily financed by wage contributions, have been hit extensively as Romania went through a recession in 2009and suffered from higher levels of unemployment. Table of ContentExecutive Summary ... 5SWOT Analysis .... 7Romania Pharmaceuticals And Healthcare Industry SWOT ... 7Romania Political SWOT 8Romania Economic SWOT ..... 8Romania Business Environment SWOT ...... 9Pharmaceutical Business Environment Ratings .... 10Table: Emerging Europe Regional Pharmaceuticals Business Environment Ratings, Q410 ...... 10Rewards ... 11Risks . 12Romania Market Summary .. 14Regulatory Regime ... 16Romania Pharmaceuticals and Healthcare Report Q4 2010 Page 1/5
  2. 2. Find Industry reports, Company profilesReportLinker and Market StatisticsIntellectual Property Issues . 17Corruption ...... 18Pricing Regime ...... 20Table: Romania Distributor Margins...... 21Table: Romania Pharmacy Margins 21Reimbursement Regime . 22Industry Developments... 25Epidemiology .. 25Table: Disease Burden In CEE ... 27HIV Burden ..... 28Table: HIV Prevalence In Romania ... 28Healthcare Sector .. 29Healthcare Sector Funding .. 33Industry Forecast Scenario .... 35Overall Market Forecast...... 35Key Growth Factors Industry... 37Macroeconomic Forecast Scenario ... 38Table: Romania Economic Activity . 41Prescription Drug Market Forecast ... 42Patented Drug Market Forecast . 44Generic Drug Market Forecast ... 46OTC Medicine Market Forecast . 47Pharmaceutical Trade Forecast . 49Medical Device Market Forecast 51Key Risks to BMIs Forecast Scenario ...... 53Competitive Landscape .. 54Pharmaceutical Industry ...... 54Pharmaceutical Industry Developments ... 56Wholesale Sector ... 58Retail Sector ... 60Company Monitor ..... 62Indigenous Companies 62Zentiva (Incorporating Sicomed) 62Actavis Romania (Sindan) .... 66Terapia-Ranbaxy ... 69Antibiotice Iasi 72Ozone Laboratories ...... 76LaborMed Pharma . 78Foreign Companies ..... 80GlaxoSmithKline (Europharm) ... 80Roche 84Sanofi-Aventis . 86Novartis ... 88Pfizer 90Krka .. 91Merck & Co .... 93Country Snapshot: Romania Demographic Data .... 94Section 1: Population .... 94Section 2: Education and Healthcare 95Table: Vital Statistics, 2005-2030 ...... 95Romania Pharmaceuticals and Healthcare Report Q4 2010 Page 2/5
  3. 3. Find Industry reports, Company profilesReportLinker and Market StatisticsSection 3: Labour Market and Spending Power...... 96Table: Employment Indicators, 2001-2006 ...... 96Table: Consumer Expenditure, 2005-2010 (US$) ... 96Table: Average Annual Wages, 2006-2010 ...... 97BMI Methodology ..... 98How We Generate Our Pharmaceutical Industry Forecasts . 98Pharmaceuticals Business Environment Ratings .... 99Risk/Reward Ratings Methodology .... 99Ratings Overview ... 99Table: Pharmaceutical Business Environment Indicators ...100Weighting 101Table: Weighting Of Components .....101Sources ...101Forecast Tables ...... 102Romania Pharmaceuticals and Healthcare Report Q4 2010 Page 3/5
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