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The Outlook for Pharmaceuticals in Latin America
Date:11/15/2011

on rates are expected to remain extremely high in the forecast period, over-inflating the Venezuelan pharmaceutical market in local terms. GDP growth, particularly from 2012 onwards, and population growth are expected to encourage pharmaceutical sales, in spite of drug price controls and currency exchange controls. MPPS will continue to implement Barrio Adentro, but threats in the public sector include government drug imports from countries that co-operate with Venezuela and government pharmaceutical production. Espicom projects the Venezuelan market to rank as the fourth largest in the Latin American region in 2016. OTC and generic sales are expected to increase in the forecast period. There are about 33 pharmaceutical producers, most of which are local. Foreign producers have consolidated their regional operations in other countries in the last ten years, but Bayer, Daiichi Sankyo, Pfizer, Sanofi, La Sante and Teva remain.

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