Market Report, "Moldova Pharmaceuticals & Healthcare Report Q2 2013", published

From: Fast Market Research, Inc.
Published: Thu May 09 2013

We continue to view Moldova as one of the least attractive emerging Europe markets for multinational companies. Per capita spending on medicines is low, on account of modest incomes, with government spending also representing less than half of the country’s total healthcare expenditure. Despite the need for more services and treatments – Moldova’s population is ageing rapidly, partly due to emigration of younger and more skilled workers – the need for fiscal discipline will prevent sustained increases in public sector-funded investment into the healthcare sector.

Headline Expenditure Projections

* Pharmaceuticals: MDL2.59bn (US$214mn) in 2012 to MDL2.74bn (US$215mn) in 2013; +6.0% in local currency terms and +0.6% in US dollar terms. Forecast broadly unchanged from Q113.
* Healthcare: MDL9.79bn (US$809mn) in 2012 to MDL10.60bn (US$831mn) in 2013; +8.2% in local currency terms and +2.7% in US dollar terms. Forecast broadly unchanged from Q113, although historical figures revised upwards slightly upon receipt of new data.

Full Report Details at

Risk/Reward Rating: Moldova’s Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI’s proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Moldova has an RRR score of 41.8 out of 100, making it the second least attractive pharmaceutical market in the Central and Eastern Europe (CEE) region, which covers 20 countries.

Key Trends And Developments:

* In November 2012, German Medigene and pan-European group Nordic Pharma entered into an exclusive agreement for the supply and marketing of Veregen (sinecatechins 15% ointment, formerly known as Polyphenon E) for the treatment of genital warts in the Czech Republic, Slovakia, Poland, Hungary, the Baltic countries, Georgia and the CIS. Nordic is planning to launch Veregen in the Czech Republic, Slovakia, Poland and Hungary during 2013, while marketing applications for the other countries are reportedly in preparation stages.
* In December 2012, the Moldovan government was reportedly engaged in the drafting of a proposal to allow patients to pay more for extra services in hospital, having been urged to do so by citizens and hospital directors. Hospitals operated by the government will be required to configure a maximum of 1,000 rooms in the needed conditions, if the initiative is approved. Hospitals run by private companies would have the option of offering the same services. Proposed price lists for these additional services have not been released.

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