(1888PressRelease)
May 08, 2009 - The results of the first three months 2009 clearly surpassed the fourth quarter 2008 figures, but slightly underperformed the prior year despite some remarkable accomplishments. The main reasons for the modest development were both the difficult market conditions generally, coupled with the tense situation in Acino’s main market, Germany.
German pharma market with major changes
The generics market in Germany, which is Acino’s most important, underwent significant changes. During the run-up to the closure of the most recent discount contract round with the German health insurance company AOK (Allgemeine Ortskrankenkassen), all pharmaceutical companies faced significant uncertainty.
Acino’s revenue growth of +7% in currency adjusted terms (-1% in CHF) reflects the general fall in inventories and the hesitation of important customers to place repeat orders until AOK negotiations were concluded. According to the AOK, the total rebate package represents almost one quarter of the German market for off-patent medicines (source: Handelsblatt).
Hence the package is expected to have a distinct impact on the German pharmaceutical market and is likely to further increase price competition for drugs that are no longer patent protected.
http://acino-pharma.com
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