Eastern Europe: The Local Advantage

Executive Summary

As the Eastern European and CIS markets expand, in some cases accelerated by EU enlargement, firms like Menarini--which in 1992 bought a strong presence in the area through its acquisition of Berlin-Chemie--are set to benefit from increasing in-licensing opportunities and growing sales. Local expertise is paramount in these markets: they may represent biggest growth opportunity in Europe, but most are still complex bureaucratically and politically, and protectionism remains rife in many states.