Moldova

A round-up of the latest appointments in Europe's health and wellness markets: Nestlé Health Science promotes Anna Mohl to CEO; Sanofi Consumer Healthcare names Thomas Bosment Romania country head; Fimea reappoints Eija Pelkonen as director general for another five year term.

The EU is funding a €1.1m project to help Moldova improve its regulatory capacity so that it is on the same footing as medical product regulators in the EU member states. The project builds on a 2014 “association agreement” signed between Moldova and the EU under plans to gradually integrate the south east European candidate country in the EU's internal market.

Valeant Pharmaceuticals International Inc. saw its stock price tick up slightly after announcing its $180 million purchase of Russian over-the-counter cold remedy company Natur Produkt.

Retail pharmaceutical sales in Moldova grew by almost 60% to $49.6 million in the first six months of this year, while the number of packs sold increased by 10%, reports Business-Credit, a Kiev-based market research firm. Imported products represented the overwhelming majority (96%) of all medicines on the market, with sales of $47.7 million (+58%).

Obligatory health insurance which was introduced in Moldova in 2003 has helped to improve the financing of healthcare. Gheorghe Russu, director general of the national health insurance company (CNAM), said the healthcare budget grew from Lei940 million ($99 million) in 2004 to an estimated Lei2.6 billion this year, and it was expected to grow by a further 30% to Lei3.5 billion in 2009. The national health insurance system is one of the best in ex-Soviet republics, he added.