Pharmaceutical Market Cools

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BMI has slightly downgraded its forecast for the Indonesian pharmaceutical market after official figures showed contraction in the last quarter of 2006, primarily as a result of decreasing public purchasing power and generic drug price cuts earlier in the year. According to the country's association of drugmakers - GP Farmasi - IDR24trn (US$2.6bn) was spent on medicines last year, which represented an 8.6% rise compared to 2005 (2004/05 growth equalled 12%). However, growth in Q406 was 3% down on the same period in the previous year, suggesting that the market is