BMI Industry View

BMI View: BMI continues to adjust its forecasts for Iran's pharmaceutical market to account for the sanction-induced currency crisis and high rates of inflation. The rapid depreciation of the rial means that we expect the value of the market to contract sharply in US dollar terms. While improved international relations have reduced the regulatory risk associated with operating in the market for multinational drugmakers, the recent proclamation of the Islamic State (IS) in neighbouring Iraq and Syria increases the threat of political instability.