Market Report, "Moldova Pharmaceuticals & Healthcare Report Q4 2014", published

The Moldovan pharmaceutical market presents limited opportunities for investors , given the market's total size and its reliance on out-of-pocket payments. The country's economic outlook, which is defined by its relations with Russia and the EU, will play a significant role in how the market grows over the coming years.

Headline Expenditure Projections

* Pharmaceuticals: MDL2.73bn (USD214mn) in 2013 to MDL2.9bn (USD226mn) in 2014; +5.7% in local currency terms and +5.4% in US dollar terms. Forecast unchanged from Q 3 14.
* Healthcare: MDL11.21bn (USD900mn) in 2013 to MDL12.05bn (USD940mn) in 2014; +7.5% in local currency terms and +5.1% in US dollar terms.

Risk/Reward Rating: Moldova sits in penultimate place in our Q414 Pharmaceutical Risk/Reward Ratings for Central and Eastern Europe (CEE). Ranking 19^thout of a total of 20 markets, Moldova performs poorly in terms of both Risks and Rewards, posting a score of 39.5.

Full Report Details at
- http://www.fastmr.com/prod/900733_moldova_pharmaceuticals_healthcare_report_q4_2014.aspx?afid=301

Key Trends And Developments

* Moldova's government sold its 94.6% stake in domestic pharmaceutical manufacturer, Farmaco (Pharmaco) for MDL51.6mn in April 2014.
* In April 2014, the government announced plans to sign an agreement for Moldovan doctors to work in Germany legally. Although the move is likely to encourage circular migration, it places further strain on understaffed hospitals and removes informal payments.

BMI Economic View: Real GDP growth in Moldova reached a record 8.9% in 2013 as the agriculture sector rebounded strongly from a drought in the previous year. However, we have downgraded our growth expectations for 2014 from 4.3% to 3.0%, due mainly to elevated external risks from the Ukraine crisis and an increasingly rocky relationship with Russia, which has the potential to disrupt trade links.

BMI Political View: After the Russian annexation of Crimea in Ukraine, there are growing concerns that Moldova's breakaway region of Transdniester could be next. In April, the parliament of Transdniester...

The Moldova 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 Moldova Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Moldovan pharmaceutical and healthcare industry.

Key Benefits

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

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