Encouraging Bounce In 2011 Drug Sales But Fresh Economic Challenges In 2012

BMI View: Despite a contraction in pharmaceutical prices, Latvia's pharmaceutical market has performed strongly in first nine months of 2011, which has led to upward revisions in our 2011 and 2012 outlooks. Latvia's attractiveness to multinationals will continue to be negatively affected by the government's cost-containment measures and the wider macroeconomic performance, especially as much of pharmaceutical spending is out-of-pocket. Despite fresh economic challenges, we see the potential for long-term upgrades to our market outlook if growth continues to beat expectations.

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