New Health Minister's Focus Turns Back To Medicine Prices

BMI View: Our view that any appointment as Bulgaria's Minister of Health would be under equal pressure as their predecessor to reduce the prices of reimbursed medicines continues to play out. We forecast limited immediate savings for the National Health Insurance Fund (NZOK) in 2012 as a result of negotiated price cuts, though these negotiations will be more damaging to individual drugmakers' products that have been targeted. Considerably more damaging legislative price cutting measures are increasingly likely to come into force in early 2013. While we maintain our cautious 8.0% year-on-year 2013 growth target, this is likely to come under pressure when a schedule for legislative adoption and enforcement becomes clearer.

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