Feeling The Pressure Of Austerity Measures

Reinforcing BMI's view that companies with significant exposure to European markets will be hard hit by government austerity measures across the region, and in particular by pharmaceutical price erosion mechanisms implemented in order to generate much needed fiscal savings, Danish medical supplies producer Coloplast expects price reforms in Spain to reduce its turnover in the country by up to DKK30mn (US$5mn) annually from its next fiscal year. Furthermore, according to Banco Español de Crédito analysts, the impact of the austerity measures could translate into a worrying 4.6% decline in Spanish drugmaker Almirall's

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