Sanitas Reports Upbeat Q310 Results

BMI View: Lithuanian generic drugmaker Sanitas has posted strong financial figures for Q310 and for the first nine months of 2010. Compared with drugmakers that have a high exposure to Western Europe and the US, BMI believes Sanitas is well positioned geographically to exploit higher pharmaceutical expenditure growth forecasts in Central and Eastern Europe (CEE). Furthermore, Sanitas's strong market presence in Poland and Russia will enable the company to avoid weaker domestic demand in the Baltic States. However, a change of legislation regarding the labelling of medicines in Russia is a threat to growth in this market in Q410.

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