Operating environment
Consolidation is occurring in the global pharmaceutical market and the healthcare equipment and supplies market, with ever larger companies being formed both in the wholesale and in the retail business. In the global pharmaceutical and healthcare market, a long-term growth is expected, even though the uncertainty in the financial markets slowed the growth in 2009. The market is going to grow mainly because of the ageing population. In addition, growth in Russia will be supported by the increasing wealth among citizens and an increase in the use of more expensive western pharmaceuticals. On the other hand, growth in the pharmaceutical market will be slowed by the expiry of patents and an increase in the proportion of more affordable generic medicines. The owning and conducting of pharmacy operations is stepwise being deregulated in Europe, which will enable pharmaceutical wholesalers to expand into the pharmacy business.
