Pharmaceutical companies invest in Finland because the country can boast top notch expertise in research. It is therefore justified to expect good return on the research investments. Finland can remain interesting and attractive if the country’s operating environment develops while it remains competitive.
Pharmaceutical market steered by price competition
The Finnish market dynamics is governed by price competition which has increased significantly due to
- generic substitution launched in 2003
- reference price system introduced in 2009 to enhance generic substitution
- generics companies entering the market and causing a dramatic drop in medicines prices
Through these actions, the health insurance reimbursement expenditures have increased only moderately, if at all.
Reimbursable medicines account for largest share
Changes in the reimbursement system are particularly reflected in the medicines sales by pharmacies which account for almost 70 percent of all medicines sales.
The pharmacy medicine purchases are broken down to
- 80 percent: reimbursable medicines
- about 13-14%: self-care medicines
- less than 10 percent: non-reimbursable prescription-only medicines.
Hospital medicines accounted for about 27 percent of the total sales of pharmaceuticals in 2017. Retail trade and other sales are only about 2 percent of the total sales of medicines.
Read more: Pharmaceutical market
Wholesales to Pharmacies, Hospitals and Retail in 2008-2017
Wholesales to Pharmacies, Hospitals and Retail in 2017
Wholesales by Therapyclass in 2017
Wholesales to Pharmacies 2008-2017
Largest Selfcare Medicine Groups 2017
Top 10 Companies in Finland in 2017
Top 10 Products in Finland in 2017
Pharmacy Sales in Finland 2016