Total pharmaceutical sales in Latvia during February–April 2009 were EUR 68 (74) million in PPP, which represents a decline of 7% at CER compared to the same period in the previous year. The economic downturn in Latvia and the VAT increase on pharmaceuticals influenced pharmaceutical sales sharply.
Tamro’s net sales in Latvia during February–April were EUR 27 (31) million, a decrease of 11%, mainly due to the general market decline. Tamro Latvia’s average wholesale market share for February–April was 24%. In retail, Tamro’s Gimenes Aptieka pharmacy chain continued expanding by acquiring four pharmacies and establishing one new pharmacy. Tamro’s retail market share is 10% (excluding franchise pharmacies). The company employed an average of 444 (394) people, of whom 75% worked in retail.
The market conditions are expected to remain strained in Latvia for the full year 2009/10.
