Boston, MA -- (SBWIRE) -- 10/21/2014 -- In July, Serbia's National Health Insurance Fund (RFZO) cut medicine prices by around 50% through a new policy, pravda.rs reported , citing Momcilo Babic, RFZO's d irector. Although criticised by the media for its new policy of lowering medicine prices, Babic believes it means that the organisation is not working for pharmaceutical companies but for the benefit of the Serbian people. The implementation of the government's new regulation on medicine prices in the country will lead to considerable savings. This illustrates that the new Serbian government is actively trying to stabilise the country's fiscal position through cutting spending. Local drug makers, however, are set to feel the worst of these new measures as they cannot compete on cost compared to larger players in the market. Thus, Serbia's pharmaceutical spending growth will remain depressed for the next two to three years. Overall, Serbia's pharmaceutical market's high price-sensitivity will constrain the market's short-term potential, although we are optimistic towards the market's long-term growth prospects.

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Headline Expenditure Projections

Pharmaceuticals: RSD90.46bn (USD1.06bn) in 2013 to RSD96.85bn (USD1.13bn) in 2014; +7.1% in local currency terms and +6.0% in US dollar terms.

Healthcare: RSD376.28bn (USD4.42bn) in 2013 to RSD397.17bn (USD4.62bn) in 2014; +5.6% in local currency terms and 4.5% in US dollar terms.

Risk/Reward Rating (RRR)

Serbia's Pharmaceutical Risk/Reward Rating (RRR) score for Q4 2014 remained at 48.8 out of 100, making it the 13th most attractive pharmaceutical market in the Central and Eastern Europe region. The country's overall score remains below the regional average of 51.4.

Key Trends & Developments

In August 2014, the Agency for Medicines and Medical Devices of Serbia (ALIMS) and Russia's Federal Service for the Supervision of Healthcare were expected to sign a memorandum of understanding (MoU) for cooperation in the pharmaceutical sector,...

The Serbia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Serbia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Serbian pharmaceutical and healthcare industry.

Key Benefits

- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Serbia to test other views - a key input for successful budgeting and strategic business planning in the Serbian pharmaceutical and healthcare market.

- Target business opportunities and risks in the Serbian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Serbia.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & Industry SWOT

An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

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