BMI View: We remain broadly optimistic about the performance of Morocco’s pharmaceutical market over the coming years. The roll-out of the country’s compulsory healthcare scheme will support volume consumption, with values to increase in line with wider economic improvements and rising per-capita incomes. However, the overall market value will remain modest on account of low per-capita spending. Headline Expenditure Projections ? Pharmaceuticals: MAD11.62bn (US$1.35bn) in 2012 to MAD12.90bn (US$1.54bn) in 2013; +11.0% in local currency terms and +14.3% in US dollar terms. Forecast slightly higher in relation to Q113 on account of higher historical data and more favourable macroeconomic outlook. …
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