Sales of medicine and other pharmaceutical products in Poland will total around zł.26.6 billion for the year 2012, according to data collected by PharmaExpert.

This translates into a 5-6 percent fall compared to the year 2011.

Piotr Kula, head of PharmaExpert, feels that the main cause is the new medicine refund legislation, which has been in force since the beginning of the year.The new refund regulations enforced fixed margins based on the cheapest medicine available in a given classification group.

This means that pharmacists have no interest in selling more expensive pharmaceuticals.In addition, a new list of refunded medication is published every month, forcing a change of price and revaluation of existing stock, Mr Kula explains.

The negative dynamic should balance out in 2013, says Marek Czachor, analyst at Erste Securities. The falling prices of refunded medication will be compensated by higher prices for over-the-counter products. For that reason, up to 3 percent growth can be anticipated in the market next year, Mr Czachor concludes.

Poland A.M.