"Serbia Pharmaceuticals & Healthcare Report Q4 2012" now available at Fast Market Research

Boston, MA -- (SBWire) -- 01/01/2013 --BMI View: The Serbian drug market continues to be characterised by wholesale liquidity challenges and payment delays. In 2012, foreign pharmaceutical companies operating in the market have suffered as a result of the deterioration of the dinar, which has impacted repatriated revenues. The new government's increased focus on controlling drug price may be a concern, although the fact that the authorities are willing to tackle the causes of medicine supply shortages in the country gives some hope that provision of medicine will be a priority. Serbia's medium- to-longer term convergence with the wider European market will stimulate pharmaceutical demand, but short-term economic weaknesses and major industry challenges are delaying the development of what should be a promising growth market.

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Headline Expenditure Projections

- Pharmaceuticals: RSD74.78bn (US$1.02mn) in 2011 to RSD78.24bn (US$865mn) in 2012; +4.6% in local currency terms and -15.2% in US dollar terms. Local currency forecast weaker due to industry factors and US dollar growth down from Q312 due to Dinar weakness.
- Healthcare: RSD335.38bn (US$4.57bn) in 2011 to RSD357.4bn (US$3.95bn) in 2012; +6.5% in local currency terms and -13.6% in US dollar terms. Forecast slightly lower from Q312 due to macroeconomic factors US dollar growth down from Q312 due to Dinar weakness.
- Medical devices: RSD16.97bn (US$231mn) in 2011 to RSD17.61bn (US$195mn) in 2012; +3.8% in local currency terms and -15.8% in US dollar terms. Forecast slightly lower from Q312 due to macroeconomic factors US dollar growth down from Q312 due to Dinar weakness.

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Key Trends & Developments

- On August 16, the Serbian government made a decision on 'the highest prices of drugs for use in human medicine on prescription'. The decision is supposed to prevent problems with medicine shortages in the market, contribute to the normalisation of drug markets in Serbia and provide better and safer healthcare for citizens. According to the government, the policy will also increase overall supply and ensure greater competitiveness. The decision applies to 531 new medicines, a third of which are patented medicines. The government said this is the first in a series of measures to ensure the provision of cheaper medicines in Serbia.

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