German Pharma Sector "Optimistic" For 1998

A survey conducted by the German association of research-based drugcompanies, the VFA, has found that a majority of its members are optimistic about their prospects for 1998, both in the domestic and export markets.

73.5% of member companies expect their sales to grow in Germany this year; at the end of 1995, 41.7% had forecast stagnating or declining sales for 1996. The new poll also found that 74% expect an increase in their export business.

Presenting the poll's results, VFA managing director Cornelia Yzer said sales for German pharmacies in the first 11 months of 1997 were almost unchanged on the like, year-earlier period, rising only 1.1% to 32.3 billion Deutschemarks ($18.18 billion) at manufacturers' prices. "Even a good five months after the recent reform laws came into effect, it cannot be defined exactly how far they will have a lasting impact on market development," she said. Sales in July were down 7.1% on July 1996, and declined further to 10.1% in August. In September the decline in sales was less marked, at 0.4%, in October they rose 3.5% and in November they were up 7.3% on November 1996.