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Pharmaceuticals in Latin America – The Outlook for Generics - August 2006 |
| Consumer Goods And Services |
| Author: | Guillaume Corpart Muller |
Pharmaceutical sales in Latin America expanded at a robust pace between 2003 and 2005, racking up a compounded annual growth rate of more than 12%. Brazil led this trend, catching up with Mexico to tie for the region’s largest market. With generics emerging as the key force driving this growth, local and multinational laboratories are reshaping their strategies.
Market Overview Latin American pharmaceutical sales totaled $23.2 billion last year, distributed among countries roughly proportionately with GDP. The region’s tier 1 countries, Mexico and Brazil, accounted for more than 60% of sales, with nearly 30% coming from the tier 2 countries: Argentina, Venezuela, Colombia and Chile. The remainder came from tier 3 countries, including Peru, Guatemala and Ecuador.
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