NEWS

Latvia

Latvia

According to BMI market growth forecasts are strong although the country will continue to present a modest opportunity to larger multinational companies on account of its relatively small market size. Pharmaceutical market is estimated at €338mn in 2015 and healthcare expenditure at € 970 mn. The development of Latvia’s market will be shaped by an increased emphasis on generic drugs; and implication of fiscal austerity measures. As a result, despite its transparent regulatory policies and business friendly operating environment, the Latvian pharmaceutical market will continue to remain a modest prospect for pharma producers.