Bulgaria Pharmaceuticals & Healthcare Report Q3 2015 - New Market Report

Pharmaceutical manufacturers will face increased pricing pressures from the National Health Insurance Fund ( NHIF ) as we expect a wave of cost-containment measures to be adopted. The NHIF will leverage its purchasing power to reduce its runaway pharmaceutical expenditure, with negative implications for the sector's growth profile. We expect generic drug penetration to rise and patented drug sales to slow considerably as the NHIF rebalances its expenditures.

Headline Expenditure Projections

* Pharmaceuticals: BGN2.53bn (USD1.72bn) in 2014 to BGN2.46bn (USD1.38bn) in 2015; -2.7% in local currency terms and -19.5% in US dollar terms. Forecast revised downwards from Q 1 15.
* Healthcare: BGN6.04bn (USD4.10bn) in 2014 to BGN5.97bn (USD3.35bn) in 2015; -1.2% in local currency terms and -18.3% in US dollar terms. Forecast revised significantly downwards from Q115.

Full Report Details at
- http://www.fastmr.com/prod/1001040_bulgaria_pharmaceuticals.aspx?afid=301

Risk/Reward Ratings: Our proprietary Risk/Reward assessment tool has been gradually adjusted to be increasingly transparent and sensitive in relation to potential Rewards. In Q3 2015, Bulgaria's Risk Reward Index (RRI) score (48.2) has fallen below the regional average (49.5). It has also fallen in our RRI rankings from eighth in Q215 to twelfth in Q3. The scores take into account the challenges for drugmakers operating in Bulgaria, such as the downward pressure on the prices of drugs and the uncertain political outlook.

Key Trends And Developments

* In April 2015, at a meeting with the Bulgarian generic drugmaker association BGPharmA, the health minister Dr Petar Moskov stated that the health ministry would introduce five new measures within amendments to the Health Insurance Act to curb pharmaceutical expenditure.
* In April 2015, the Bulgarian health ministry announced plans to merge the management of nine hospitals in Sofia. The move will result in approximately 350-400 job cuts. Under the current plan, all nine state hospitals around Aleksandrovska are set to be merged in terms of...

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

Key Benefits

* Benchmark BMI's pharmaceutical and healthcare market forecasts for Bulgaria, to test other views - a key input for successful budgeting and strategic business planning in the Bulgarian pharmaceutical and healthcare market.

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