Latvia Pharmaceuticals & Healthcare Report Q4 2014 - New Market Study Published

From: Fast Market Research, Inc.
Published: Fri Aug 29 2014

Latvia's macroeconomic environment continues to improve at the same time as smooth transitions to a new currency and new Prime Minister. Market growth forecasts are strong although the country will continue to present a modest opportunity to larger multinational companies on account of its relatively small market size. Meanwhile, tensions between Ukraine and Russia may provide challenges for local manufacturers looking towards exports to Russia to boost revenue .

Headline Expenditure Projections

* Pharmaceuticals: EUR325mn (USD429mn) in 2013 to EUR341mn (USD458mn) in 2014; +5.0% in local currency terms and +6.6% in US dollar terms.
* Healthcare: EUR0.94bn (USD1.24bn) in 2013 to EUR0.98bn (USD1.32bn) in 2014; +4.5% in local currency terms and +6.1% in US dollar terms.

Risk/Reward Ratings: Latvia is ranked 12th out of the 20 countries surveyed in the Central and Eastern Europe (CEE) region in Q414. Its relative position in the rankings remains unchanged from our assessment for the previous quarter. Latvia's overall score also remains unchanged at 50.0 for Q414. Latvia's score remains below the regional average of 51.4, indicating the country's challenging business environment, particularly in terms of potential industry rewards. Consequently, direct multinational operations are limited and domestic companies such as Grindeks have looked abroad for growth opportunities.

Full Report Details at

Key Trends And Developments

* In June 2014, Grindeks reported that it had made an advance payment of EUR11.67mn as part of a 2012 deal to acquire Slovakia-based company, HBM Pharma, in a deal worth EUR13.1mn. The remaining amount of the payment will be made after the re-registration of shares to Grindeks according to Slovak legislation. Grindeks commented that it anticipates the transaction to be completed in 2014; following completion, HBM Pharma will be included in Grindeks' Group structure.

BMI Economic View: International credit rating agency Fitch has raised Latvia's...

The Latvia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Latvia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Latvian pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Latvia to test other views - a key input for successful budgeting and strategic business planning in the Latvian pharmaceutical and healthcare market.

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