Size Matters Less in Slovakia
Pharma companies in Slovakia are managing to circumvent the problems inherent in the size of the local market by focusing on the country’s advantages in market access and regional leadership, as well as through joining together with affiliates in neighboring Czech Republic.
Slovakia is, in comparison to most of its regional neighbours, a small country in terms of both geography and population. Consequentially, despite progressive, reformist noises emanating from the halls of the Ministry of Health spearheaded by new Minister Tomas Drucker, the potential in the domestic pharmaceutical and healthcare markets is limited. However, some companies implanted in Slovakia are seizing the potential that the country has to offer in areas such as market access, best practice, the development of the market and Slovak culture. Others have adopted a more regional approach, identifying the potential of partnering and consolidating with affiliates in neighbouring countries to reduce costs, share ideas, and drive growth.