Novo Nordisk’s 2009 sales affected by Romanian drug price regulations

2010-02-09

In 2009 the sales of Novo Nordisk in Romania were worth €24m, a figure similar to that of the previous year, according to Mediafax. The reason was a 5-20% reduction in the cost of medicines sold by the company in 2009 in accordance with new rules on drug price calculation introduced by the Romanian Health Ministry. Company representatives claim that Novo Nordisk also lost 6-8% of revenue because of the devaluation of the Romanian lei used in the calculation of prices of imported medicines by the Romanian Health Ministry (at RON 4 for €1).
In 2010 company expects the Romanian drug market to grow at a rate of 10% and hopes that its sales will follow suit. This year Novo Nordisk is planning to launch new products for diabetes and the treatment of childhood growth defects.
Novo Nordisk is the main supplier of insulin to Romania, where the company increased its market share to 52% in 2009 in comparison with 45.7% in 2008. The company employs 60 people in the country.