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New Market Study Published: Ukraine Pharmaceuticals & Healthcare Report Q2 2011

Fast Market Research recommends "Ukraine Pharmaceuticals & Healthcare Report Q2 2011" from Business Monitor International, now available

 
PRLog - Apr. 28, 2011 - BMI's updated forecast for the Ukrainian pharmaceutical market foresees a robust recovery in market values,  albeit from the low base of 2009 when the market suffered a 23.7% contraction in US dollar terms, underlining  the volatility of this strategic but deeply risky market on the borders of the European Union. Adjusted for  updated growth forecasts and currency valuations, we now expect to see a 20.2% compound annual growth rate  (CAGR) in US dollar terms (13.4% in local currency) through to 2014, with the market expected to reach a  total value of UAH37.39bn (US$6.23bn).  Following gains in local elections at the end of October 2010 by the ruling Party of Regions against a  demoralised opposition, President Viktor Yanukovych has established a grip on power not seen in Ukraine  since the Orange Revolution. His closer relationship with Russia has eased tensions and should reduce (if not  eliminate) unpredictable trade disputes and gas rows. He is also adhering to the harsh terms of the country's  IMF standby agreement, something flouted by the previous government. From an overall business perspective,  this provides a modicum of stability, although it is far from clear whether Yanukovych's regime will be able or  willing to tackle high-level corruption beyond the investigation of members of the previous government.  One high profile investigation is an audit of state expenditures approved by the previous government, headed  by Yulia Tymoshenko, by a US law firm and other outside investigators. Among the reported findings were  alleged 'instances in which offshore shell companies and sham transactions were employed to  sellÖpharmaceuticals to the government at highly inflated prices' - a reference to state purchases of  medicines, including influenza treatments. Such an investigation will be useful it if leads to steps to deter  corrupt tenders for medicines under state programmes in the future.  For most foreign investors however, Ukraine's absence of clear 'rules of the game' and enforcement of  intellectual property rights remains a primary obstacle. In October 2010, US officials publicly complained  about plans by the city council of Kiev to sell a 30% stake in Borshchagovsky Chemical and Pharmaceutical  Plant (BXFZ), consisting of assets which a US investor claims had been expropriated from them. Such claims,  are not uncommon in the Ukrainian pharmaceutical industry, although local investors have been primary  victims. For this reason, multinational direct investment remains minimal despite the market's large size,  growing economy and ideal position vis-‡-vis other large Central and Eastern European (CEE) markets. As  such, most deals will involve packaging plants and contract production, keeping the foreign producer at arm's  length. Recent examples include GSK's deal with local plant PharmaLife, whereby the latter will package  bulk vaccines delivered by the multinational. Such deals are important for Ukraine, but the country would  benefit far more from direct investment in new, high-technology facilities in the country. Until the government  can demonstrate that rule of law will prevail, most will stay away.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/149695_ukraine_pharmaceuticals...

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/catalog/publishers.aspx?pubid=1010

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.

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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.

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Industry:Health, Medical, Research
Tags:investigation, plant, pharmaceutical, medicines, multinational, law, investor, ukrainian, investment, dollar
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