Sales of drugs went up by 20% in the first five months of this year compared with the same time in 2008, to 3.5 billion RON (838 million euros) according to the data of market research company IMS Romania.
The performance was helped by the elimination, last fall, of the caps imposed on drugstores, which immediately boosted consumption. The pharmaceutical market is, under the circumstances, one of the few markets to have kept growing since the beginning of the year. The automotive, home appliances and construction industries are the hardest hit in the first half of 2009, with sales down by at least 30%.
"The growth came from cancer and diabetes drugs. One can see a higher increase in the sales of prescription drugs compared with OTCs (over the counter drugs i.e.), which is natural during a time of economic crisis, when patients’ budgets are affected," said Robert Popescu, CEO of A&D Pharma, the biggest local pharmaceutical group.
According to IMS data, sales of prescription drugs increased by 22.9% whereas OTCs went up by only 6.3%.
IMS Health is the biggest market research firm worldwide that specialises in the pharmaceutical sector; its operations span more than 100 countries and revenues reached 2.3 billion dollars in 2008.
Whereas sales of drugs rose 20.5% in value in the first five months of 2009, they fell by 5.2% in volume to 204 million units, according to the data of IMS Romania, which monitors product entries in drugstores.
"The first months of 2009 came after a slow period last year, when sales were practically frozen because of the distribution problems. Under the circumstances, stocks had to be rebuilt (in drugstores i.e.). This is natural growth," said Corina Ciolan, general manager of IMS Romania.
Sales through drugstores increased by 23.1% to 3.1 billion RON (723 million euros), while sales through hospitals went up by 5.1%. Both channels, however, witnessed declines in volume, of 4% and 17% (drugstores and hospitals).
"The growth may come from the fact that the caps imposed on drugstores were dropped and it may also come from the increase of OTCs," said Dorin Catana, general manager of Centrofarm drugstore network.
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