Monday, 23 June 2008

Predictive report shows good signs for pharma patenting

Research and Markets has reported that Research and Markets has published its "Outlook for Pharmaceuticals in Latin America to 2013" (click here for details). According to this report, the eight leading Latin American pharmaceutical markets -- currently worth US$50bn -- are expected to grow by 9.9% between 2008 and 2013, outpacing the slowing North American markets. These markets cover some 474 million people with a GDP of US$3.4 trillion in 2008.

According to the report, access to medicines in the public sector has increased, with governments using their bargaining power to negotiate and centralise drug purchases in an effort to contain costs. At a regional level, MERCOSUR members have agreed to establish a drug price database to compare and monitor drug prices.

From an intellectual property perspective the report mentions that in Mexico the government has started a renewal process for drug registrations, it being predicted that there will only be patented and bioequivalent generics by 2010. For the time being, however, Mexico remains on the 2008 USTR Watch List. The region is also facing a growing incidence of drug counterfeiting, but initiatives are in place to control it.

No comments: