Boston, MA -- (SBWIRE) -- 06/19/2013 -- Kazakhstan remains the most attractive pharmaceutical market in Central Asia, in terms of the overall regulatory environment and ease of doing business compared to neighbouring countries. The domestic market is constrained by the relatively small size of the population and daunting infrastructure challenges. Pending World Trade Organisation (WTO) accession, expected as soon as this year, as well as Kazakhstan’s membership in the Customs Union (CU) with Russia and Belarus should drive continued improvements in regulation and harmonisation, assuming the contradictions of membership in the two groups (such as common external tariffs) can be ironed out. Meanwhile, foreign investors have acquired controlling stake in the three largest pharmaceutical manufacturers – Chimpharm, Nobel and Global Pharm – and have committed to expanding manufacturing capacity and creating Good Manufacturing Practice (GMP)-complaint facilities. The government announced in February 2012 that it would review options for new pricing regulations to address high prices, a process that both domestic and foreign players will be watching closely.

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Headline Expenditure Projections

- Pharmaceuticals: KZT245.63bn (US$1.65bn) in 2013 to KZT273.2bn (US$1.86bn) in 2014; up 12.5% in local currency terms and 12.9% in US dollar terms. Forecast adjusted up slightly due to updated macroeconomic forecasts.
- Healthcare: KZT1331.5 (US$8.96bn) in 2013 to KZT1,498.9 (US$10.23bn) in 2014; up 14.2% in local currency terms and 14.6% in US dollar terms. Forecast adjusted up slightly due to updated macroeconomic forecasts.

Risk/Reward Rating: Kazakhstan’s Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI’s proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q312 updates of the Pharmaceuticals & Healthcare reports. Kazakhstan has a RRR score of 47.1 out of 100, making it the 14th most attractive pharmaceutical market in Emerging Europe.

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