Research and Markets (http://www.researchandmarkets.com/research/c36d13/hungary_pharmaceut) has announced the addition of the "Hungary Pharmaceuticals and Healthcare Report Q1 2012" report to their offering.

Business Monitor International's 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.

BMI View: While BMI lowered its projections for Hungary's pharmaceutical market in response to the government's structural reform programme at the start of 2011, it continues to believe the reported magnitude of the cuts to drug subsidies will not be achievable. BMI's scepticism over the credibility of these reforms was reinforced in October 2011, when the government released its 2012 budget plan, which, while seemingly maintaining the longer term saving targets, included smaller than expected planned cuts to drug reimbursement expenditure in 2012 and yet again failed to underpin exactly how the cuts would be achieved.

Headline Expenditure Projections:

• Pharmaceuticals: HUF678bn (US$3.27bn) in 2010 to HUF696bn (US$3.74bn) in 2011; +2.6% in local currency terms and +14.3% in US dollar terms. Forecast moderately up in local currency terms, from Q411 due to stronger than expected H111 sales.
• Healthcare: HUF1,942bn (US$9.38bn) in 2010 to HUF1,994bn (US$10.73bn) in 2011; +2.7% in local currency terms and +14.4% in US dollar terms. Forecast broadly unchanged in local currency terms, from Q411.
• Medical devices: HUF112.23bn (US$542mn) in 2010 to HUF115.4bn (US$621mn) in 2011; +2.8% in local currency terms and +14.6% in US dollar terms. Forecast down moderately due to analyst modification.

Key Trends & Developments

The level of savings to be achieved from the drug subsidy budget has been reduced in 2012, according to the latest reading of Hungary's budget plan. The original March 2011 Szll Klmn plan included savings from the prescription drug subsidy system reaching HUF83bn (US$382mn) in 2012. The latest available data suggest this figure has been reduced to a slightly less ambitious HUF67bn (US$309mn).

In August 2011, it emerged that Gedeon Richter and Germany-based Stada have announced the signing of two separate licence and collaboration agreements regarding the development and marketing of two biosimilar products for the two monoclonal antibodies rituximab and trastuzumab, both used as cancer treatments.

In August, the International Court of Arbitration of the International Chamber of Commerce (ICC) has ordered Netherlands-based Genefar to pay US$40mn to Hungarian drugmaker Gedeon Richter as compensation for violating the takeover of Genefar's Polish pharmaceutical unit Polpharma.

Companies Mentioned:

• Gedeon Richter
• Egis Pharmaceuticals (Servier)
• Foreign Manufacturers
• Pfizer
• Novartis
• Sanofi-Aventis
• GlaxoSmithKline
• Merck & Co
• Eli Lilly
• Teva

For more information visit http://www.researchandmarkets.com/research/c36d13/hungary_pharmaceut

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