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The Latin American Market for Generic Drugs - A Comparative Study of 7 Key Markets
Espicom Business Intelligence Ltd, April 2006, Pages: 192
Rapid growth, high unmet clinical needs and increasing regulation are changing the face of Latin American pharmaceuticals. What are the opportunities and challenges for companies and investors wanting to develop or enter this growing market? This major strategic study compares 7 key markets.
Key Areas Addressed:
5-Year market forecast to 2010
Analysis of trends
Intellectual property protection
GMP/bioequivalence progress
Health provision and plans
Domestic production and review of leading companies
Answering important questions about the future of generic drugs in Latin America
What effect is the move to better GMP and bioequivalence having on the market now, and what impact might it have on domestic companies in the future?
Patents and intellectual property have risen to the top of the industry's agenda, but is there political will to enforce compliance?
What role are ambitious Indian generic manufacturers taking in the region and what is their on going impact likely to be?
In 2005, the generic sector in Latin America was valued at US$1.7 billion, which represented a 26.9% increase over the 2004 figure of US$1.3 billion. Regional generic expenditure per capita stood at US$3.8. Venezuela had the highest expenditure per capita at US$8.0, followed by Argentina at US$5.8.
Throughout the region, pharmaceutical patenting remains a relatively new concept - and an on-going issue. Many countries have local industries geared to producing branded versions of drugs still under patent in their country of origin. These copycats tend to be priced cheaper than branded originals, and this diminishes 'pure' generic penetration.
The traditional proliferation of non-bioequivalent, branded generic or copycat products is slowly being replaced by the steady introduction of bioequivalent generics in Latin America. In an effort to increase local demand, raise awareness and increase export opportunities, bioequivalence standards are slowly being implemented.
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