Economic footprint of the pharma sector in Bulgaria

The total contribution that the pharmaceutical industry has provided for the Bulgarian economy in 2021 is estimated at around 2.8 billion Bulgarian lev ($1.57 billion) or 2.2% of the country's gross domestic product (GDP), which is in line with the average level for Europe.

These and other data were presented for the first time by Luka Chichov, executive director of IQVIA for Central and Eastern Europe, in a report delivered during an expert meeting of the economic and strategic contribution of the pharmaceutical sector in Bulgaria, which was organized by the country’s trade organizations representing pharma and generics companies as well as wholesalers.

For 2021, the total economic contribution was calculated based on the value of labor remuneration in the sector (almost 1.1 billion lev), the discounts provided to the national health insurance fund (NHIF) and taxes (914 million lev), the value of the goods produced by the companies in Bulgaria (426 million lev), the investments in clinical trials (178 million lev), the value of the saved costs through the introduction of generic medicines (113 million lev), as well as the added value in the form of the realized training campaigns for patients, doctors and other experts in the area (38 million lev).