The Outlook for Pharmaceuticals in Central & East... ( NEW YORK Dec. 13 2012 /- Reportlinker...)

The Outlook for Pharmaceuticals in Central & Eastern Europe

Date:12/13/2012

NEW YORK, Dec. 13, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

The Outlook for Pharmaceuticals in Central & Eastern Europe

http://www.reportlinker.com/p0203103/The-Outlook-for-Pharmaceuticals-in-Central--Eastern-Europe.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Drug_and_Medication

The pharmaceutical market of Central & Eastern Europe is estimated at US$63.6 billion at retail prices in 2011; it is expected to reach US$104.2 billion by 2016. The market is expected to expand by a moderate CAGR in US dollar terms between 2011 and 2016, as the region's economies recover from the global economic crisis.

Dominance of generic medicines

Generic medicines represent around half of the total CEE pharmaceutical market in value terms and almost three quarters in volume terms. Generics have retained their strong position in the region due to the demand for affordable drugs and the fact that some governments favour generics when selecting products for reimbursement, as they are usually cheaper than imported products and help to keep costs down. Although rising incomes have led to increased sales of branded products, recent financial difficulties are likely to have forced patients towards purchasing cheaper generics.

Central and Eastern Europe is home to a large number of generic companies, including Krka, Gedeon Richter, Polpharma and Zentiva, which have traditionally focused on the production of generics. Pharmstandard, Russia's leading generic company, has a small number of original drugs in its portfolio, but many companies lack the funding that is required for extensive R&D. Branded generics are particularly common in Central and Eastern Europe, espe
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