November 23, 2017

Romanian pharmaceutical industry sees positive prognosis

Last year, Romania’s pharmaceuticals market remained resilient growing by 12.4 % to EUR 2.55 billion. The growth trend will continue this year as well, as experts predict, seeing the country has a yearly pharmaceuticals expenditure of EUR 139 per capita. Romanians need better access to innovative pharmaceuticals but these come with a solid price tag. Meanwhile, the authorities are trying to overhaul the current public healthcare system in order to streamline spending and improve overall medical services. Pharmaceuticals demand will soar in the coming years as Romania fights to reach the standards of Western economies, but companies are trying to cope with delayed public payments from CNAS, the health insurance house that manages the budgets for medical services and drugs. Payment terms went up to over 300 days last year, from the EU average of 230 days. A recently introduced claw-back tax that obliges producers to pay for treatments that exceed the CNAS budget will also put additional pressure on the industry.

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