Slovakia is one of the foremost Central and Eastern European (CEE) markets for innovative pharmaceutical firms seeking to expand their European revenues outside of the traditional Western Europe markets. Alongside its neighbouring countries, namely the Czech Republic, Hungary and Poland (making up the Visegrad Four), Slovakia has one of the most robust regulatory environments in the region. On the other hand, the country's small size limits the absolute size of the market. In 2017, 2.15% of the country's GDP was spent on pharmaceuticals, as combined sales of prescription drugs and OTC medicines - sold through pharmacies and hospitals at consumer prices - reached EUR1.83bn (USD2.06bn). For a Central and Eastern European country, per capita drug expenditure in Slovakia is high at USD379 in 2017, equivalent to some Western European markets and significantly higher than in some of its larger neighbours. The penetration of patented drugs in Slovakia is low compared with Western Europe. We calculate that in value terms, patented medicines represented 45.2% of the total drug market in 2017, although this remains substantially higher than the markets of the south-east and Eastern European states. Valued at EUR819mn (USD926mn), generic drugs represented 44.9% of the market, although government policies are likely to encourage growth in volumes. In the same year, OTC medicines accounted for just 9.9% of the market, at EUR181mn (USD205mn).

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