AMNOG Is Tough On Drugmakers

BMI View: While the AMNOG legislation will compress drug company's revenue-earning opportunities in Germany, we believe the country will remain an attractive location to launch drugs in. In 2011, Germany's drug market was the fourth-largest globally, after the US, Japan and China. Furthermore, per capita spending is high, there is a sizeable pensionable population and regulations are transparent. These are factors BMI believes will continue to bring in substantial income for companies operating in the

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