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Around 75% Of Romanian Pharmacies Close To Bankruptcy – Cegedim

Around 75% of Romanian pharmacies are on the brink of bankruptcy, having stretched themselves too thin by continuing to provide discounted and free medicine, according to Petru Craciun, director of market analysis firm Cegedim.
Around 75% Of Romanian Pharmacies Close To Bankruptcy – Cegedim
10 feb. 2010, 13:59, English

There are between 4000 and 5000 pharmacies in Romania.

Craciun said the 75% figure is realistic. „We have repeatedly warned that 25% of pharmacies are barely running, and that was before [state] payments were delayed last year. Cegedim has data about the condition and evolution of sales and we can confirm that, according to average monthly sales, 24% of pharmacies have high sales, 29% have average sales and 47% have sales below the national average,” Craciun explained.

Craciun said pharmacies became over-exposed because they did not cease providing discounted and free medicine, despite having received no money from public health insurance houses.

As regards the patients, according to Craciun, their situation is no different from previous years: „the ones with financial means have to get by on their own; the ones without have to wait for the public system’s support, which is shaky and incomplete.”

French group Cegedim is an international provider of data and marketing services for the pharmaceutical industry, with a turnover of more than USD1 billion and around 8,000 employees. Cegedim’s market share in Romania is 80%, according to company data. Its main competitor is IMS Health.