Tamro Estonia

Estonian pharmaceutical market during February–April 2009 decreased by 1% compared to the same period in the previous year. The negative growth is due to the weak economic situation in Estonia and the VAT increase on pharmaceuticals as from January 2009.

Tamro’s net sales in Estonia during February–April were EUR 21 (20) million, an increase of 2.5%. Tamro’s average market share in wholesale was approximately 32%. In retail, the average market share of Tamro’s Apteek1 pharmacy chain was approximately 14% (excluding franchise pharmacies). The company employed an average of 331 (305) people, of whom 78% worked in retail.

The Estonian Government is looking into savings in health care spending due to the budget deficit. The estimated pharmaceutical market growth for the full year 2009/10 is 4–5%.

In the pharmacy market, aggressive consumer marketing continued and campaigns had a negative impact on margins. Despite the weak economic situation, the pharmacy market is expanding. As the pharmacy licenses are currently state-regulated, opening new pharmacies is difficult, however.