DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/56a15b/lithuania_pharmace) has
announced the addition of the "Lithuania Pharmaceuticals and Healthcare Report
Q4 2009" report to their offering.
Lithuania Pharmaceuticals and Healthcare Report provides industry professionals
and strategists, corporate analysts, pharmaceutical associations, government
departments and regulatory bodies with independent forecasts and competitive
intelligence on Lithuania's pharmaceuticals and healthcare industry.
BMI calculates that Lithuania's pharmaceutical market reached a value of
LTL1.70bn (US$0.70bn) in 2008. By 2013, we expect the value of the prescription
and over-the-counter (OTC) markets to reach a value of LTL2.13bn, equating to a
compound annual growth rate (CAGR) of 4.61% over the forecast period. However,
as a result of the weakening Lithuanian currency, drug market expenditure in US
dollar terms will decline in 2009, to reach a value of US$0.526bn, before rising
to US$0.528bn in 2010 and US$0.61bn by 2013, equating to a negative CAGR of
-2.75%. We also add that the growth in the drug market is modest, in line with
other Central and Eastern Europe (CEE) countries.
In BMI's Business Environment Ratings matrix for Q409, Lithuania is found in
16th position out of the 20 markets surveyed in the CEE region, between Moldova
and Latvia. In relation to the previous quarter, Lithuania has moved down one
place. The country's overall pharmaceutical rating is below average, due to
small and falling population numbers that limit its overall size and an economy
that is highly exposed to external risk. Globally, Lithuania is 55th of the 71
markets within BMI's pharmaceuticals and healthcare market universe, ahead of
Morocco and Latvia and behind Indonesia and Israel.
In company news, in August 2009 it was announced that Sicor Biotech's turnover
increased by 49% year-on-year (y-o-y) to LTL52.67mn (US$21.97mn) in H109. The
results were attributed to sales of the oncology drug TevaGrastim, which is now
registered for use in the EU. The company is planning to increase its exports
dramatically. BMI notes that Lithuania's biotechnology sector has benefited from
strong government support. A knowledge-based economy is a priority, and this has
translated to significant improvements in GDP in recent years.
The Lithuanian pharmaceutical market has experienced considerable volatility in
recent years, due to a changing regulatory environment and a changing
reimbursement regime. Most recently, economic pressures, including falling
consumer confidence, will result in lower market values over the coming months.
Following the release of Q2 GDP data, which showed the economy contracting by
20.2% y-o-y, BMI's Country Risk team has revised down the forecast for
Lithuanian growth in 2009, and now project real GDP to fall by 15.9% - making
the Lithuanian economy one of the worst performing in the world this year. With
the authorities attempting to correct the economy's external asymmetries through
a relatively unprecedented internal devaluation, we caution that output, wages
and prices are all set to contract steeply. The consequences of the economic
downturn have yet to be fully understood and despite the demand for healthcare
being relatively independent of the trends in the troubled wider economy, BMI
notes that market figures for subsequent years may be even lower than forecast.
Key Topics Covered:
* Executive Summary
* SWOT Analysis
* Pharmaceutical Business Environment Ratings
* Regulatory Regime
* Industry Developments
* Industry Forecast Scenario
* Competitive Landscape
* Company Profiles
* Country Snapshot: Lithuania Demographic Data
* Methodology
Companies Mentioned:
* GlaxoSmithKline
* Pfizer
* Novartis
* Merck & Co
* Sanofi-Aventis
* Valentis
* Sanitas
* Sicor Biotech
For more information visit
http://www.researchandmarkets.com/research/56a15b/lithuania_pharmace
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Copyright Business Wire 2009
