Outlook For Growth Lowered

BMI View: Our view that Latvia will return only weak pharmaceutical market growth in 2011 remains firmly in play. The performance of this market remains indelibly tied to the country's macroeconomic environment. Having endured a three-year depression, the economy is finally set to return to positive growth in 2011. However, the road back to prosperity will be long as the significant percentage of out-of-pocket payments present in the pharmaceutical market has left it vulnerable to the economic downturn.

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