Disease Profile Indicates High Demand, But Economy Limits Growth In The Medium Term

BMI View: Latvia's disease profile and relatively low per-capita consumption of pharmaceuticals (compared with the rest of developed Europe) is a clear illustration of the need for innovative medicines. However, the performance of the pharmaceutical 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, with private consumption still lagging behind the country's broader economic recovery, threatening the return of the predominantly out-of-pocket driven pharmaceutical market.

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