The Outlook for Pharmaceuticals in Latin America added to Piribo.com

Dec. 14, 2010 - PRLog -- The region is economically being led by Brazil, but GDP growth is expected to be slow, after a recent period of remarkable growth. At a regional level, efforts have been made among MERCOSUR members but regional pharmaceutical regulatory implementation is slow. Access to medicines in the public sector has increased, particularly among the least well-off population, with initiatives such as Remediar in Argentina, PAC Saúde in Brazil, Auge in Chile, Seguro Popular in Mexico and Barrio Adentro in Venezuela. Governments are using their bargaining power to negotiate - and centralise - drug purchases in an effort to contain costs. Overall, public drug expenditure in the region will continue to rise, as there is a considerable level of unfulfilled demand.
http://www.piribo.com/publications/country_reports/outlook_pharmaceuticals_latin_america.html

Private pharmacy sales have slowed down. Innovative drug prices continue to rise, but governments have started to control them, either directly or indirectly. Contrary to what has happened in developed markets, generics consumption in Latin America is low, with the exception of Brazil. Local protectionism, very low prices and high production capabilities have helped Brazil to develop a sizeable bioequivalent generics market which, until recently, proved tough for foreign generics producers. In Mexico, Calderon’s government continues the renewal process for drug registrations. It is expected that there will only be patented and bioequivalent generics by February 2010. Therefore, generic sales in Mexico are expected to double in the short-term. The region is also facing a growing incidence of drug counterfeiting, but initiatives are in place to control it.

In spite of intensifying cost-containment measures, the region needs to increase drug access. Therefore, attractive opportunities for pharmaceutical and biopharmaceutical producers remain in Latin America. Brazil is the largest pharmaceutical market. Economic recovery continues in the country, although pharmacy sales are growing moderately. Mexico is the second leading market. Recent regulatory developments will create further opportunities, particularly for generic producers. Local producers are strengthening their manufacturing capabilities in order to maximise their export markets, especially in other neighbouring Latin American countries. Combined domestic production represents about half of the regional market. Nevertheless, companies need to act in smaller Latin American markets to maximise their full sales potential in the region.

Piribo product ID: ESP00345

Latin America Pharmaceutical Reports
http://www.piribo.com/pharmaceutical_markets/latin_americ...

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