A roundup of some of the latest from Latin American pharma, including India’s interest in the South American market, Bayer’s USD 361 million investment in Mexico, the EU’s partnership to boost investment in vaccines and drug production in the region, Panama’s cannabis strategy, and Brazil’s manufacturing attractiveness.
Indian pharma industry eyes South American market, seeks greater access (Business Standard)
A business delegation from India under the aegis of the commerce ministry visited South American nations like Colombia, Bolivia, Peru and Brazil to discuss a roadmap for greater access to Indian pharma companies in their respective markets, reported Livemint.
The delegation visited the countries from 30 July-13 August to meet with the health ministries and regulatory agencies of these countries to further discuss the roadmap for greater market access to Indian pharmaceutical companies.
As global pharma majors are exiting South America after coronavirus pandemic, the Pharmaceuticals Export Promotion Council of India (Pharmexcil) is looking to promote Indian pharmaceutical exports in the Latin American and Caribbean Region (LAC).
The German company will USD 361 million in Mexico within the next three years, a commitment a country that “could improve” its investment environment, according to Bayer’s global executive director, Werner Baumann.
“We continue to follow our path of making significant investments in Mexico, and this is based on the fact that Mexico is one of not many countries that have the complete value chain of what we are doing,” said Baumann during his visit to the Mexican capital.
Brazil: untapped market for big pharma manufacturing (Pharmaceutical Technology)
International companies investing in the emerging market of Brazilian pharmaceutical manufacturing will see a higher return on investment than from developed market equivalents, if they choose to compete with local manufacturers to supply Brazil’s growing market and the greater South American region.
Brazil has a unified healthcare system known as Sistema Único de Saúde (SUS), the largest government-run public healthcare system in the world by number of beneficiaries. SUS provides full, free and universal access to healthcare for the country’s entire population (215 million), which spends around 10% of its gross domestic product (GDP) on healthcare. Only a limited number of international pharma companies, however, operate manufacturing sites in the country.
The European Union wants to boost production of vaccines and drugs in Latin America by investing more in the region and by sharing technologies and regulatory practices, the head of the European Commission said.
Under attack in developing countries for blocking a global temporary waiver on COVID-19 vaccine patents, the EU has launched several initiatives to boost production of pharmaceuticals in poorer nations, starting with investments in Africa.
Now Brussels is trying to replicate that model in Latin America.
“The health partnership we are launching today will create stronger, more resilient health systems in Latin America,” Ursula von der Leyen said.
Panama plans to supply domestic demand and become an exporter of medical cannabis. With a new regulated law, local patients celebrate that possibility and employers take into account. It is estimated that in the first year of regulation of the law, 3,000 patients may be registered to receive cannabis or medical marijuana, but most likely, according to experts, this figure will rise rapidly.
The health system in Mexico suffers from overload, lack of early detection of diseases, prevention actions, as well as the need for greater investment, says Rolf Hoenger, head of area of Roche Pharma Latin America.
In an interview with Forbes Mexico, he detailed that the Pan American Health Organization recommends an investment in public health equivalent to 6% of GDP, while in Latin America the average is 3.7%, and in Mexico the amount allocated is around 2.6%.
“And investment in health can have a great benefit for the economy,” he said. “There are studies that argue that every dollar invested in health generates a profit in GDP of 2 to 4 dollars,” added the also member of the advisory board of the 2030 Health Movement, dedicated to driving innovation.