BMI View: Iran’s pharmaceutical market will become increasingly reliant on pharmaceutical imports over the next decade. In light of ongoing trade sanctions, increasing import reliance puts Iran at significant risk of long-term medicine shortages. Uptake of medicines in the short-term is further risked by currency depreciation and hyperinflation of local medicine prices. We believe the medicines market will contract in 2013, before the return of growth in 2014. Headline Expenditure Projections ? Pharmaceuticals: IRR50,982bn (US$4.18bn) in 2012 to IRR64,851bn (US$1.85mn) in 2013; +27.2% in local currency terms and -55.7% in US dollar terms. Forecast broadly in line with previous quarter …
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