Research and Markets (http://www.researchandmarkets.com/research/a38684/hungary_pharmaceut) has announced the addition of the "Hungary Pharmaceuticals and Healthcare Report Q4 2009" report to their offering.
This Hungary Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hungary's pharmaceuticals and healthcare industry.
In this Business Environment Ratings (BER) for Q409, Hungary remains ranked 11th, out of the 20 major markets within Central and Eastern Europe (CEE), its position having worsened in recent months. Despite stronger dynamics than in previous times, a negative regulatory environment and consequent poor market performance are leading to an increasingly poor outlook for multinationals. Such factors, in addition to the deteriorating macroeconomic climate have led BMI to further adjust its forecast for Hungary's pharmaceutical market. From being valued at HUF613.9bn (US$3.57bn) in 2008, the market is expected to rise by a negligible compound annual growth rate (CAGR) of 0.9% in local currency terms through to 2013, when its value will reach just HUF642.2bn (US$3.20bn).
In fact, market recovery is not expected until 2011 at the earliest, although even this time period is in question, given the deficit accrued by the country's national health insurance body (OEP). In July 2009 local press announced that the OEP's deficit in H109 topped HUF52.8bn (US$307mn), some HUF48.4bn over its original target. The revenue achieved in H109 fell short of expectations by 4.5%, with reimbursement spending overshooting the target by some 10%. The only positive result was achieved through the much-contested 12% tax contribution collected from pharmaceutical companies and distributors, which topped the target by 28.8%.