Reportlinker Adds the Outlook for Pharmaceuticals in Latin America.
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , May 12 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
The Outlook for Pharmaceuticals in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies.
The pharmaceutical markets in Latin America are worth US$50 billion - and growing fast!
The eight Latin American markets covered by Espicom Business Intelligence Introduction
Espicom Business Intelligence is a publisher of independent and impartial information and analysis services focusing on the pharmaceutical and medical device markets. represent a market of 474 million people with a GDP GDP (guanosine diphosphate): see guanine. of US$3.4 trillion in 2008. The region is better prepared to face global instability than in the past but economic growth is expected to slow down in 2009 and 2010, after a recent period of remarkable growth. Access to medicines in the public sector has increased, particularly among the least well-off population, with initiatives such as Remediar in Argentina, PAC Saude in Brazil, Auge in Chile, Seguro Popular in Mexico and Barrio bar·ri·o
n. pl. bar·ri·os
1. An urban district or quarter in a Spanish-speaking country.
2. A chiefly Spanish-speaking community or neighborhood in a U.S. city. Adentro in Venezuela. Governments are using their bargaining power to negotiate - and centralise Verb 1. centralise - make central; "The Russian government centralized the distribution of food"
alter, change, modify - cause to change; make different; cause a transformation; "The advent of the automobile may have altered the - drug purchases in an effort to contain costs. At a regional level, MERCOSUR members have decided to establish a drug price database to compare and monitor drug prices. Overall, public drug expenditure in the region will continue to rise, as there is a considerable level of unfulfilled demand.
Private pharmacy sales are surging, as countries such as Brazil, Mexico and Venezuela have higher disposable incomes in a climate of macroeconomic mac·ro·ec·o·nom·ics
n. (used with a sing. verb)
The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. stability. Innovative drug prices have risen, 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 protectionism
Policy of protecting domestic industries against foreign competition by means of tariffs, subsidies, import quotas, or other handicaps placed on imports. , very low prices and high production capabilities have helped the country to develop a sizeable bioequivalent bi·o·e·quiv·a·lent
A value indicating the rate at which a substance enters the bloodstream and becomes available to the body. generics market which has proved tough for foreign generics producers. In Mexico, Calderon's government has started a renewal process for drug registrations, and it is expected that there will only be patented and bioequivalent generics by 2010. For the time being, however, Mexico remains on the 2008 USTR USTR United States Trade Representative
USTR United States Transuranium Registry (Richmond, Washington)
USTR Underground Storage Tank Regulation Watch List. The region is also facing a growing incidence of drug counterfeiting, but initiatives are in place to control it.
Attractive opportunities remain in Latin America. The eight pharmaceutical markets covered by Espicom Business Intelligence will represent a value of US$80 billion at retail prices in 2013. With nearly twice the population of Mexico and a GDP of US$1.4 trillion, Brazil is the largest market. Economic stability and the depreciation of the US dollar are helping to bring private pharmacy sales to record figures in the country. Mexico is the second leading drug market, whilst Argentina and Venezuela each represent about a quarter and a third of the Brazilian and Mexican drug markets. Local producers are strengthening their manufacturing capabilities in order to maximise their export markets, particularly in other neighbouring Latin American countries. Combined domestic production represents about half of the regional market. Imports are valued at over US$10 billion but low exports contribute to a deficit in the pharmaceutical balance of trade of US$7 billion.
These reports analyse the issues
That is why Espicom Business Intelligence has published these new management reports: The Outlook for Pharmaceuticals in Latin America to 2013. Each report provides an individual and highly-detailed analysis of each market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access. The reports are available individually or as a discounted collection, and prices include 4 completely updated reports sent quarterly plus a comprehensive annual review.
The pharmaceutical markets in Latin America are worth US$50 billion!
The region, led by Brazil, is better prepared to face global instability than in the past but economic growth is expected to slow down, after a recent period of remarkable growth. Access to medicines in the public sector has increased, particularly among the least well-off population, with initiatives such as Remediar in Argentina, PAC Saude 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. At a regional level, MERCOSUR members have decided to establish a drug price database to compare and monitor drug prices. Overall, public drug expenditure in the region will continue to rise, as there is a considerable level of unfulfilled demand.
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 has 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. The region is also facing a growing incidence of drug counterfeiting, but initiatives are in place to control it.
Attractive opportunities 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, whilst Venezuela and Argentina represent about a third and a quarter of the Brazilian market. Local producers are strengthening their manufacturing capabilities in order to maximise their export markets, particularly in other neighbouring Latin American countries. Combined domestic production represents about half of the regional market. Imports are valued at over US$10 billion but low exports contribute to a deficit in the pharmaceutical balance of trade of US$7 billion.
These reports analyse the issue
The Outlook for Pharmaceuticals in Latin America is a unique collection of management reports from Espicom Business Intelligence. Each report provides individual and highly-detailed analysis of each market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access. The reports are available individually, or as a discounted collection, and prices include 4 completely updated reports sent quarterly, together with a comprehensive statistical appendix. There are over 60 markets covered in the worldwide series.
Highlights from the region
The pharmacy sector, traditionally dominated by branded products, has showed an impressive double-digit growth in recent years but the growth rate is expected to slow down in the years to come, especially as real economic growth is projected to fall in 2009. The balance of pharmaceutical trade remains in deficit; local producers have a surplus, whist whist, card game for four players, those on opposite sides of the table being partners. The full pack of 52 cards is dealt. The dealer's last card is turned up to indicate trump, and after he draws this card in hand, the player on the left of the dealer leads. foreign producers have a significant deficit. The leading domestic companies, Roemmers and Bago, have strong manufacturing capabilities and are entering new export destinations in order to diminish their reliance on the local market. Bago, for instance, inaugurated a new biologic plant in Pakistan in September 2009; this is a joint-venture with Ferozsons.
Controlled drug prices are growing at below inflational levels but price controls are not directly linked to consumption levels. Demand should increase in 2010 as the country is emerging from the economic downturn much quicker than anticipated. The pharmacy sector in dollar values is registering a slower growth in 2009. OTC OTC
See over-the-counter market (OTC). sales are expected to be affected by the new advertising regulation, enforced in June 2009, and the new dispensing practices, published in August 2009. Generics sales continue to grow at a higher rate than the overall pharmacy sector, and they are expected to represent 20% of the sector by volume in 2010. In September 2009, it was rumoured that the local generic producer Neo Quimica was being acquired by Pfizer. This would be the second major acquisition in the generic sector in 2009, following sanofi-aventis' acquisition of Medley.
Chile is the sixth largest pharmaceutical market in the region. Protectionism towards the domestic industry characterises the market. The domestic industry is heavily reliant on imports of raw materials. Due to a lack of quality standards, exports are mainly restricted to Andean countries. Domestic producers account for over half of the pharmacy sector by value. The leaders are LabChile, Recalcine, Saval and Andromaco. The market is increasing, although prices remain low at regional levels. TRIPS-related patent enforcements and health reforms will increase pharmaceutical spending in the long term. Farmacias Ahumada, Cruz Verde and SalcoBrand remain the three pharmacy chains which control around 90% of the pharmacy sector. They have strong vertical distribution systems and practice product & market diversification.
The Colombian pharmaceutical market is the fifth largest in the region. The largest domestic manufacturers are Bussie, Genfar, Lafrancol, La Sante, Procaps and Tecnoquimicas which produce generic copycats. Tecnoquimicas, announced the purchase of the largest pharmaceutical laboratory in El Salvador El Salvador (ĕl sälväthōr`), officially Republic of El Salvador, republic (2005 est. pop. 6,705,000), 8,260 sq mi (21,393 sq km), Central America. , Teramed, in October 2009, for the sum of US$30 million, as part of a Central American Central America
A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. expansion plan. The Colombian President Alvaro Uribe is visiting Guatemala on 13th October 2009 when he hopes to ratify a Free Trade Agreement between Colombia and the Northern Triangle of Central American (Guatemala, El Salvador and Honduras). Previously, the US FTA with Colombia stopped in 2008.
Cuba has a relatively strong domestic pharmaceutical and biotechnological industry, which responds to the needs of the population and export opportunities. Domestic production accounts for between 80% and 90% of the market, the remainder being imports. Cuba develops leading vaccines and drugs to treat HIV/AIDS, circulatory circulatory /cir·cu·la·to·ry/ (ser´ku-lah-tor?e)
1. pertaining to circulation, particularly that of the blood.
2. containing blood.
1. diseases and cancer. These are of interest particularly to many developing countries in search of cheap generics or technology transfer. Cuba also undertakes a high number of clinical trials; 24 anti-cancer biotech bi·o·tech
short for biotechnology
Noun 1. products were being trialled in June 2009. QUIMEFA's enterprise production programme 2007-2012 includes 73 products of which 31 substitute imports. The organisation claims to have saved Cuba US$1.4 million during the first semester se·mes·ter
One of two divisions of 15 to 18 weeks each of an academic year.
[German, from Latin (cursus) s of 2009 through its production.
The current exchange rate of the Mexican peso against the US dollar is causing uncertainty, with increasing pharmaceutical import costs. This is expected to affect previously registered import levels. The overall pharmacy sector is facing stagnation Stagnation
A period of little or no growth in the economy. Economic growth of less than 2-3% is considered stagnation. Sometimes used to describe low trading volume or inactive trading in securities.
A good example of stagnation was the U.S. economy in the 1970s. , if not negative growth, in 2009. Pfizer's acquisition of Wyeth and the merger of Merck Sharp & Dohme and Schering Plough will change the sector, with sanofi-aventis being pushed down. On a positive note, the downturn and an evolving regulatory environment are fuelling generics consumption. This market is expected to double in size in 2010. The latest foreign company to enter the generic market is Valeant which acquired a local producer in July 2009; sanofi-aventis acquired a local producer in early 2009. The local company Genomma Lab launched its generic product portfolio in August 2009.
PERU Peru, country, South America
Peru (pər`), Span. Perú (pār
Historically, growth in pharmaceutical expenditure has been positive but unstable. According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the Ministry of Health (MINSA), the pharmacy sector represents 72% of the market at manufacturers' prices, and the hospital sector 28%. The USA - Peru Trade Promotion Agreement, effective from February 2009, should result in further intellectual property compliance by the pharmaceutical industry, a more competitive market and more widespread generics use by the government. Domestic producers produce branded and unbranded generics. Imports of original drugs are generally consumed by the pharmacy sector, whilst locally produced branded and unbranded generics are consumed by the pharmacy and hospital sectors. Leading domestic producers include Farmindustria, Infarmasa Corporation (Magma and Sanitas), Medifarma and Medco Corporation (Cofana and Marfan).
Pharmaceutical market growth in dollar terms is expected to fall as the economy will deepen in recession in 2010. In June 2009, the Ministry of Popular Power for Trade (MinComercio) announced the government's intentions to review and reform the area of intellectual property rights for the pharmaceutical sector. In May 2009, MinComercio also said that it was drafting a report for the government's consideration on the provisional seizure PROVISIONAL SEIZURE. A term used in Louisiana, which signifies nearly the same as attachment of property.
2. It is regulated by the Code of Practice as follows, namely: Art. 284. of pharmaceutical facilities. Pfizer, for instance, which has been operating a manufacturing plant in Valencia, in the state of Carabobo, since 1964, is said to be considering its options if the government eventually takes its manufacturing plant. This might be an increasing threat for pharmaceutical companies.
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