BMI's Forecast For A Double-Digit Decline In Spending Points To More Pain For Drugmakers

BMI View: Reinforcing BMI's view that companies with significant exposure to debt-ridden European markets will be hard hit by government austerity measures across the region, and in particular by pharmaceutical price erosion mechanisms, the Spanish government's austerity measures look set to continue to significantly affect drugmaker revenues - threatening Spain's attractiveness to the as a location in which to sell drugs, especially as public health spending accounts for 71% of total health expenditure.

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