Pharmaceutical Market Should Outperform Baltic Peers

BMI forecasts that pharmaceutical sales growth in Estonia will rebound in 2010, though macroeconomic factors presage a less positive growth dynamic over the next decade. Data from the State Agency of Medicines (Ravimiamet) shows that pharmaceutical sales grew by 1.8% at retail prices in 2009. BMI projects a return to growth of 4.9% in local currency terms for 2010, with longer-term stabilisation around this level. From 2009-2014 we project a compound annual growth rate (CAGR) of

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