BMI View: The threat of price cuts in 2014 presents downside risks to the Polish pharmaceutical market, especially if the government does not compromise with the industry. Nevertheless, over a long term horizon, we see growth opportunities in the Polish pharmaceutical market. Headline Expenditure Projections ? Pharmaceuticals: PLN31.37bn (US$9.64bn) in 2012 to PLN32.29bn (US$10.26bn) in 2013; 3.25% in local currency terms and 6.4% in US dollar terms. ? Healthcare: PLN108.74bn (US$33.43bn) in 2012 to PLN110.10bn (US$34.87bn) in 2013; +1.3% in local currency terms and 4.3% in US dollar terms.
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