Espicom's in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year. In May 2004, Hungary became a member of the European Union and national legislation has been harmonised with EU Directives. Hungary represents one of the more advanced pharmaceutical markets of Central Europe. The country has a strong tradition of pharmaceutical manufacturing and has always maintained a relatively high level of consumption. However, increased use of expensive drugs, among other factors, has led to an ever-expanding drugs budget deficit. Over the past few years, the government has implemented a number of measures to reduce the deficit, but they have mainly been at the expense of pharmaceutical companies. Recent legislation designed to limit the overspending of the drugs budget has hit the pharmaceutical industry hard. The sector has witnessed a number of changes, particularly since January 2007, including reduced reimbursement rates, new prescription charges and further mandatory contributions from manufacturers. The most recent legislation is likely to result in manufacturers contributing at least twice as much as they did in 2006 towards the drugs bill.

Pharmaceutical production in Hungary is specialised in the production of generic drugs. Generic prescribing will increase in 2007 due to increased pressure on physicians to prescribe the cheapest available drugs. Privatisation of the main pharmaceutical companies took place in the period 1991-1996, starting with Chinoin. Gedeon Richter is controlled by foreign investors, whereas the majority share of equities in other companies are owned by foreign professional investors.