Farmexpert, which is among the top five players on the drug distribution market, has budgeted turnover worth 200 million euros for 2008, up 17% against 170 million euros forecast for this year.

"Given that drug prices will probably witness significant cuts, it is not an ambitious increase and is a relatively small rise compared to the levels we are used to. In terms of sales, I expect the market to maintain a consistent growth rate, however I don't think the increase will be as high in terms of value," said Iulian Trandafir, executive manager of Farmexpert.

In January 2008, Trandafir will step down and be replaced by Octavian Iacob, who previously worked at Syngenta Romania.

Farmexpert posted turnover worth 131 million euros in the first three quarters of the year, against 91 million euros during the same period last year.

"Nine months into the year, we met our estimates. We expect to end this year with turnover worth at least 170 million euros, which would be the worst-case scenario. In terms of the increase registered in the first nine months of the year, the transfer of the national oncology, diabetes and post-transplant programmes to private drugstores were beneficial. I expect to register a steady growth in 2008, when AIDS and TB programmes are also decentralised," stated Trandafir. He added the pharmaceutical market maintained its upward trend in the third quarter of the year, which helped to boost the distributor's business.

"There were a couple of setbacks because of rumoured price cuts, while drugstores blocked orders to distributors so as not to be left with high value stock. However, over those three months, the market witnessed a normal evolution," specified Iulian Trandafir.

Farmexpert, which is among the top five players on the drug distribution market, has budgeted turnover worth 200 million euros for 2008, up 17