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Pharma market in Romania will be impacted by controversial claw-back tax

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Romania's pharmaceutical sales in the 12 months ending June 2012 increased by 13.6% y/y (16.9% y/y in local currency) to EUR 2.6bn (RON 11.5bn), backed by the good performance in the period Jul 2011 - Mar 2012. In Q2/2012, medicine sales dropped by 2.5% y/y to EUR 626mn (RON 2.77bn), compared to the 18% y/y expansion in Q1. In local currency, sales still managed to post positive 4.4% y/y growth in Q2, but the advance eased significantly from the 21.6% y/y surge in the previous quarter. The slowdown...

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