Follow on Google News News By Tag * Pharmaceutical * Drug * Healthcare * State-guaranteed * Weak * Greek * Notes * Debts * Pharmacists * Hospital * More Tags... Industry News News By Location Country(s) Industry News
Follow on Google News | New Market Research Report: Greece Pharmaceuticals & Healthcare Report Q2 2011New Healthcare market report from Business Monitor International: "Greece Pharmaceuticals & Healthcare Report Q2 2011"
Headline Expenditure Projections: * Pharmaceuticals: * Healthcare: EUR22.77bn (US$30.21bn) * Medical devices: EUR1.18bn (US$1.57bn) in 2010 to EUR1.14bn (US$1.54bn) in 2011; -4.0% in local currency terms and -2.2% in US dollar terms. Forecast down marginally from Q111 due to analyst modification. Business Environment Rating: Out of the 20 key markets surveyed in the Central and Eastern European (CEE) region, Greece is placed seventh with a BER score of 57.3 in Q211 unchanged from the previous quarter, but considerably below its historically high position. Moreover, a recent downward revision to Greece's pharmaceutical market projections in late February 2011 has yet to be included in the current BER matrix and will result in a further decrease in Q311. Key Trends & Developments * In late 2010, the Greek government, the International Monetary Fund, the European Union and the European Central Bank signed a memorandum of understanding (MoU) regarding the next round of austerity measures, including further cost-containment initiatives for public pharmaceutical expenditure. The objective is to reduce Greece's public expenditure on pharmaceuticals as a percent of GDP from 1.9% in 2009 to just 1% by 2012. * Changes to the negative and positive reimbursement drug list were published at the end of January 2011. While the industry has backed the negative list, it has vehemently opposed amendments to the positive list. An additional amendment in the latest reimbursement criteria includes a clause whereby any innovative new drugs achieving sales growth of more than 5% in one year will have its price cut by 2.5% the following year. * In February 2011, Doctors in state hospitals and public health centres in Greece went on strike, protesting against the government's planned reduction in healthcare spending. Moreover, medics emphasised that the planned reduction will affect medical services to patients in the country. ?? On December 8 2010, Greece's Ministry of Health announced that with the assistance of National Bank of Greece, it will issue EUR5bn (US$6.6bn) in non-interest bearing bonds to suppliers of state hospitals, which will settle debts from 2007 to 2009. It is hoped that the oneyear, two-year and three-year bond options will end longstanding disputes that led to medical shortages in the country. BMI Economic View: The Greek economy slid further into recession during the fourth quarter of 2010, lending further support to our view that a full-blown depression is underway. Deep fiscal retrenchment, double-digit unemployment, weak investor sentiment and an export sector ill-equipped to reap the benefits of recovering domestic demand, provide a potent mix for 2011. Only deep structural reforms to eradicate corruption, reduce the grey economy, improve labour market flexibility and promote private sector growth, can rejuvenate the economy over the longer term. BMI Political View: The Greek government has a long way to go in overhauling public finances and instituting far reaching economic reforms. In the meantime, the pressure is on. The ruling PASOK administration must simultaneously deal with a deepening recession, debt repayment negotiations, violent protests, rolling strikes and civil disobedience, as well as surging inflation and unemployment. For more information or to purchase this report, go to: - http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
|
| |||||||||||||||||||||||||||||||||||||||||||||||
Account Phone Number