2014-02-12 11:56:02 - Venezuela Pharmaceuticals and Healthcare Report Q3 2013 - a new market research report on companiesandmarkets.com
As we have previously highlighted, Venezuela´s currency devaluation has an immediate negative impact on multinationals´ local financial performance reported in repatriated currency terms. We believe that foreign drugmakers will suffer from increasing government intervention, which aims to address high inflation as a consequence of the devaluation.
Headline Expenditure Projections
- Pharmaceuticals: VEB43.5bn (US$10.1bn) in 2012 to VEB53.4bn (US$8.8bn) in 2013; +22.8% in local currency terms and -13.6% in US dollar terms. Forecast remains unchanged from Q213.
- Healthcare: VEB86.7bn (US$20.2bn) in 2012 to VEB106.6bn (US$17.5bn) in 2013; +22.9% in local currency terms and -13.5% in US dollar terms. Forecast up due to new historical data.
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