2014-01-09 07:49:04 - Norway Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
While Norway´s pharmaceutical market is small, analysts believe the country´s high public expenditure on health, stringent regulatory climate (recognised by the US and the EU) and stable and transparent business environment - similar to that of its regional neighbours Austria, Denmark and Finland - are major factors in making it an attractive location for drugmakers to set up operations.
Pharmaceuticals: NOK19.30bn (US$3.23bn) in 2012 to NOK19.65bn (US$3.39bn) in 2013; 1.8% in local currency terms and 2.3% in US dollar terms.
Healthcare: NOK256.68bn (US$44.13bn) in 2012 to DKK264.82bn (US$45.74bn) in 2013; +3.2% in local currency terms and +3.7% in US dollar terms.
Risk/Reward Rating: While drugmakers operating in Norway may not face the challenging conditions apparent in a large number of declining Western European
pharmaceutical markets, the Norwegian pharmaceutical market has displayed very slow or no growth in recent years. This is largely attributable to the Norwegian government´s pricing and reimbursement policy, and the expiry of patents for high turnover drugs. Additionally, the share of total health spending on medicines is low in Norway compared with other OECD countries.
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