Drug Policy Reforms Will Result In Market Contraction In 2012

BMI View: Slovakia's pharmaceutical market is set for an extended period of low growth and lower prices. The legislative progression of the drug policy reform is nearing completion, with new policies set to impact market dynamics from the final quarter of 2011. Despite significant lobbying pressure, we no longer believe that local industry will be able to achieve significant policy revisions and believe the current proposals will be adopted without further major amendments. The drug policy legislation will result in moderate drug price contractions and a greater use of generic pharmaceuticals. Furthermore, the use of pharmacoeconomic analysis and a review of health insurance company activities are expected to moderate growth and limit drug consumption over the medium term.

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