In May 2008-April 2009, drug market shrank 2.5% in terms of volume while the value of drugs sold increased by 9%.

In April, the local pharmaceutical market contracted by 11.7% in terms of units sold year-on-year, and by 4.9% compared to March. In terms of value, April sales dove 5.2% y/y and 6.3% from a month earlier.

“Predictions for 2009 indicate a decline both in size and value. Furthermore, we will witness loss accumulation at retailers, narrowed cash flow and possible exits following price pressures exerted by a full-fledged financial crisis”, said Petru Craciun (photo), managing director of Cegedim.

Drug sales, he continued, dropped constantly on yearly basis at an average 10% rate regarding the drugs administered in hospitals but increased by 5% in retail segment.

According to Robert Ancuceanu, managing director of National Medicines Agency, there are 7,263 authorized drugs, 4,500 of which authorized through national procedure.

Romanian pharmaceutical industry was valuated at 466.5 million euros, up 6% in euros, from a year earlier.

When expressed in lei, the local pharmaceutical market increased by 22.5% in first quarter, up 1.99 billion lei, according to Cegedim.