The Bulgaria Pharmaceuticals and Healthcare Report Provides Independent Forecasts...

The Bulgaria Pharmaceuticals and Healthcare Report Provides Independent Forecasts and Competitive Intelligence on Bulgaria's Pharmaceuticals and Healthcare Industry

DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/reports/c92348) has announced the
addition of "Bulgaria Pharmaceuticals and Healthcare Report Q2 2008"
to their offering.

The Bulgarian pharmaceutical market has emerged as one of the most
promising in Central and Eastern Europe (CEE) in recent years. Market
prospects have been further improved by the European Union (EU)
membership gained at the start of 2007, which has vastly improved the
country's intellectual property (IP) regime, facilitating access for
foreign products.

However, chronic funding shortages plaguing the healthcare sector
will continue to hamper the government's attempt to modernise and
improve services. Moreover, the Health Protection Confederation, which
represents 14 patient organisations, is planning to take legal action
against the Bulgarian Doctors Union (BDU) for delaying medical supply
negotiations at the National Health Insurance Fund (NHIF), which could
further exacerbate the funding issue. In the meantime, the pharmacy
association is also considering litigation against the government over
new legislation tightening pharmacy ownership and reducing margins.

In the light of the above, generic drugs, presently accounting for
over a quarter of the market by value, will continue to gain shares at
the expense of costlier, patented variety. This situation will be
further upheld by the strong local generics industry, despite the fact
that some firms have been purchased by foreign concerns. Similarly,
although relatively modest at present, the development of the
over-the-counter (OTC) market will be significant, stimulated by
increasing health awareness among consumers, vertical and horizontal
integration of the sector, as well as strong advertising support for
such products and the focus on cost containment in healthcare.

In terms of other medical sectors, while the Bulgarian medical
devices market is one of the least developed in Eastern Europe,
healthcare system improvement and modernisation of primary care in
particular years have established a solid base for market development
- finances permitting. Imports - mainly from Germany and the US -
continue to account for the bulk of the market, with the country's EU
accession further boosting this situation. Over the coming years,
foreign companies may also wish to take advantage of the fact that the
investment incentives for firms registered locally are higher.

The revised Business Environment Rankings for Q208 place Bulgaria
in the joint second position, alongside the Czech Republic, out of the
16 regional markets surveyed in CEE. The country's score, improved by
one, allowed Bulgaria to gain one place in relation to the previous
period, when it was ranked joint third alongside Hungary. Indeed,
foreign firms continue to enjoy the benefits of Bulgaria's EU
membership and a favourable business climate. Prominent foreign
companies are also becoming more directly involved in the Bulgarian
pharmaceutical market by acquisition of domestic players.

Consequently, some of the larger local companies (backed by
foreign capital and ownership) are now in a position to offer strong
export portfolios, having implemented good manufacturing practice
(GMP) standards in domestic production.

Companies Mentioned:

-- Actavis Bulgaria (formerly Balkanpharma)

-- Biovet

-- GlaxoSmithKline

-- Merck & Co

-- Novartis

-- Pfizer

-- Sanofi-Aventis

-- Sopharma

For more information, visit
http://www.researchandmarkets.com/reports/c92348

Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com

Copyright Business Wire 2008