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Since the year 2000 Serbian economy has been going through an extensive economic growth by approximately 5% a year, which puts it among the countries with the highest growth in Europe. Serbia has made progress in trade liberalization and enterprise restructuring and privatization. It has made progress towards EU membership by signing a Stabilization and Association Agreement with EU in May 2008. 

During the same period pharmaceutical market had annual growth rate of 15%, with faster growing market for imported drugs. Eurozone financial crisis also affected pharmaceutical market in Serbia. In the last three years (2012-2014) pharmaceutical market has been decreasing due to economic crisis and cost containment measures by the Health Insurance Fund. Serbia has adopted a tender model for reimbursed products, which resulted in decreasing of the average price per unit. Estimated pharmaceutical market value for 2014 is 660 Mio EUR.

Serbia has been a potential EC candidate since December 2009. To date, the European Commission has recognized the country’s political and economic advancement on its way to EC.
Trade of pharmaceutical products is regulated by a Law on Drugs and Medical Devices which is aligned with the EU standards.


Key facts and figures:


Area:   88'000 km2
Capital:   Belgrade
Population:   7,10 million (2015)
Currency:   Serbian Dinar (RSD)
Volume of pharmaceutical market:   EUR 660 million (2014)
Of which imported drugs:   60%
No. of hospitals:   174
No. of physicians:   24'000
No. of pharmacies:   2'100
Our subsidiary:   Ewopharma d.o.o. Beograd           
    Borisavljevićeva 78
    RS-11010 Beograd
Phone: +381 11 77 00 585
Fax: +381 11 77 00 595
Administration 5
Sales and Marketing 8