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Follow on Google News | "Czech Republic Pharmaceuticals & Healthcare Report Q3 2011" now available at Fast Market ResearchFast Market Research recommends "Czech Republic Pharmaceuticals & Healthcare Report Q3 2011" from Business Monitor International, now available
------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ Headline Expenditure Projections * Pharmaceuticals: * Healthcare: CZK267.85bn (US$14.10bn) * Medical devices: CZK26.56bn (US$1.40bn) in 2010 to CZK27.95bn (US$1.64bn) in 2011; +5.2% in local currency terms and +17.5% in US dollar terms. Forecast down marginally in local currency terms from Q211 due to analyst modification. Business Environment Rating: Once again, the Czech Republic has taken top spot in the Q311 Central and Eastern Europe (CEE) BERs, overtaking Poland whose score remains unchanged. The Czech Republic's Q311 score increased by 4.7% to 66.4 out of 100. However, this is partially due to the appreciation of the Czech koruna, benefiting growth rates when measured in US dollar terms. Key Trends & Developments * In a statement in May 2011, Health Minister Leos Heger described how the maximum prices for medicines will now be determined by the average of the three lowest prices of reference in a basket of 21 EU countries. Drug policy amendments are also seeking to accelerate pricing and reimbursement approval for the first generic drug. The reimbursement price for all products in the therapeutic group will decrease by 32%. All generic drugs will be allowed to undergo a shorter approval procedure. * The launch of new innovative drugs on the market is also set to become more difficult. The Czech Republic will only pay for highly innovative drugs that are already reimbursed in at least two countries in the new reference basket. A new review process for reimbursement will be introduced to consider the terms of repayment, including the position of the therapeutic reference group and a short review which calculates the amount of reimbursement. This will be altered only if the market situation changes. * In late May 2011, it was revealed that the Czech Health Ministry aims to introduce centralised drug purchasing by health insurance funds through electronic tenders. The introduction of centralised purchasing will transfer the power of decision-making on prescribed drugs from a healthcare establishment to health insurance funds. According to the advisor of the health minister, Pavel Veprek, a similar purchase system was introduced in the Netherlands, which resulted in health insurance funds saving about 10% on medicine expenditure. BMI believes this level of savings is very unlikely. BMI Economic View: We expect the Czech Republic's economic expansion to be primarily driven by exports this year, forecasting real GDP growth of 2.4%. Private consumption remains constrained by fiscal austerity measures and relatively high unemployment - 8.2% in May - and is weighing on this component's contribution to headline growth. BMI Political View: We maintain that the Czech Republic will likely form a new coalition government at some point in 2011. A governmental collapse, as seen in 2009, is not our core scenario, as given the coalition parties' falling popularity among the electorate, we believe they will attempt to avoid elections at all costs. We continue to expect a new coalition government to be formed in the Czech Republic, made up of the Civic Democrats (ODS), the Tradition Responsibility Prosperity 09 party (TOP 09) and various defecting members of the Public Affairs (VV) party.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
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