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Introduction

Latin American countries have attracted a lot of attention recently. With their economies currently stable, their geographic location and low-cost is ideal for investors. In addition, having such a high and varied population eases recruitment for clinical trials, and the demographics show there is a very high need for pharmaceuticals.

Scope

Overview of the key trends driving the pharmaceutical market growth

Analysis of key healthcare system characteristics impacting the pharmaceutical market

Analysis of pharmaceutical market dynamics in Argentina and Mexico

Overview of key pharmaceutical players in Argentina and Mexico

Highlights

Although both the Argentinean and the Mexican markets have been growing, their growth is attributed to different reasons. The Argentinean pharmaceutical market has been growing mainly based on growing sales volume, while growth of the Mexican market is mainly driven by growing prices.

The Mexican market is dominated by foreign companies with few domestic players. The Argentinean market is dominated by domestic branded generics firms, due to the economic crisis which led to many foreign companies to sell their plants in Argentina, thus allowing the domestic firms to gain over their market share.

Sales of pharmaceutical categories in both countries are very similar to the West thus opening growth opportunities for foreign companies. However, sales of oncology drugs are low in both countries; and Mexico has higher sales of anti-infective drugs indicating that these markets still have scope for further development and growth.

Reasons to Purchase

Identify the healthcare needs in Argentina and Mexico

Understand the barriers and drivers for entering these markets

Gain insight into pharmaceutical dynamics of Argentina and Mexico

CHAPTER 1 EXECUTIVE SUMMARY 4
Scope of the report 4
Key findings 4
Argentina 4
Mexico 5
IMS caveat 6
CHAPTER 2 THE PHARMACEUTICAL MARKET IN ARGENTINA 11
Argentina has stable macroeconomic factors, some of which must be strengthened 11
A growing pharmaceutical market dominated by branded generics 12
Demographic trends in Argentina 13
Disease burden in Argentina 14
Socioeconomic environment in Argentina 15
Political climate in Argentina - stable 15
GDP has been growing after the economic crisis of 2001 16
Regional differences - the fight for equality continues 17
Mercosur established free trade between the countries involved 18
Corporate environment in Argentina 19
Foreign direct investment in Argentina is modest 19
Taxation system in Argentina 19
The healthcare system in Argentina 21
Healthcare expenditure in Argentina is high 23
The public sector is decentralized 23
Social health insurance system is fragmented 24
The private sector covers a minority of the population 25
The hospital capacity within the public sector has declined while the private sector has been growing 25
Regulatory issues in Argentina 26
IP protection has improved but is still inadequate 26
A significant effort has been made to reduce the patent backlog in Argentina 27
Registration of drugs in Argentina is a straight forward procedure 28
Advertising of pharmaceuticals is strictly controlled 28
Import of pharmaceuticals has been facilitated by Mercosur agreement 29
Drug counterfeiting has been reduced by a number of measures 29
Pricing and reimbursement of pharmaceuticals in Argentina 30
Pricing of pharmaceuticals in Argentina 30
The Generics Law, resulted in lower prices and increased access to pharmaceuticals 30
Antiretroviral therapy prices were decreased 31
Reimbursement of pharmaceuticals in Argentina 32
Remediar program, introduced in 2002, increased drug access to the poor 33
Pharmaceutical market dynamics in Argentina 34
Branded generics dominate the Argentinean market 35
Top three distributors dominate while retail pharmacy chains are expanding 37
Top manufacturers on the Argentinean retail market 38
Top ATC groups by sales value on the Argentinean retail market 39
Top brands on the Argentinean retail market 42
Import and export of pharmaceuticals - demand for foreign drugs remains high 43
Major foreign pharmaceutical companies in Argentina 43
Pfizer 43
Bayer 44
Roche 44
Major domestic pharmaceutical companies in Argentina 44
Roemmers 45
Bagó - collaboration and geographical expansion are driving growth 45
Phoenix 46
Clinical trials in Argentina - an underused opportunity 47
CHAPTER 3 THE PHARMACEUTICAL MARKET IN MEXICO 51
Growth of the Mexican economy and strengthened intellectual property rights are boosting pharma industry 51
The Mexican pharmaceutical market is dominated by foreign companies and is attracting a lot of clinical research 52
Demographic trends in Mexico 53
Disease burden in Mexico 54
Socioeconomic environment in Mexico 55
Political climate in Mexico 55
GDP has increased since the introduction of NAFTA 56
Regional differences - some rural areas are in extreme poverty 57
NAFTA eliminated tariffs between the US, Canada and Mexico, and boosted the Mexican economy 57
Corporate environment in Mexico 58
Taxation system in Mexico 58
Foreign direct investment in Mexico was boosted by NAFTA agreement 58
The healthcare system in Mexico 60
Healthcare system reforms in Mexico - the national health system aims to provide choice of healthcare provider 60
Healthcare expenditure in Mexico is low 62
The social security sector 62
Governmental services headed by the Ministry of Health are designed to offer coverage to the poor and uninsured 63
Only a small proportion of the population has private health insurance 63
Regulatory issues in Mexico 64
Intellectual property (IP) protection has significantly improved 64
Registration of drugs in Mexico is simple 65
Physicians play an important role in drug choices 66
Import of pharmaceuticals in Mexico is facilitated by NAFTA 66
Counterfeit drugs are a persistent problem in Mexico 67
Pricing and reimbursement of pharmaceuticals in Mexico 67
Pricing of pharmaceuticals in Mexico 67
Reimbursement in Mexico 69
Pharmaceutical market dynamics in Mexico 73
Mexico classifies generics into three segments 74
Market growth is driven mainly by growing preference and demand for high-value products and not by volume growth 74
Distribution of pharmaceuticals in Mexico is dominated by two distributors 75
Pharmacies selling cheap pharmaceuticals are very popular in Mexico 75
Top pharmaceutical companies in Mexico-multinationals dominate 76
Top ATC groups by sales value on the Mexican retail market 77
Top brands on the Mexican retail market 80
Import and export of pharmaceuticals have increased since NAFTA came into place 81
Major foreign pharmaceutical companies in Mexico 81
Sanofi-Aventis 82
Pfizer 82
AstraZeneca 82
Major domestic pharmaceutical companies in Mexico 83
Senosiain 83
Clinical trials in Mexico - an attractive opportunity for US companies 84
CHAPTER 4 BIBLIOGRAPHY 86
Publications and online articles 86
Datamonitor resources 96
Glossary of Terms 97
List of Tables
Table 1: Demographic indicators for Argentina, 2005 13
Table 2: Average annual growth rate of GDP and exports in Argentina, 1998-2010 (%), 16
Table 3: Key economic indicators for Argentina, 1986-2006 17
Table 4: Health expenditure indicators in Argentina, 2004 23
Table 5: Density of healthcare workers and hospital capacity in Argentina, 1998 26
Table 6: Argentina - Growth of pharmaceutical market in terms of sales volume, 2003-06 35
Table 7: Argentina - Average cost of unit sold, 2003-06 35
Table 8: Branded generics dominate the Argentinean pharmaceutical market, 2006 36
Table 9: Top 15 drug manufacturers in Argentina, 2006 38
Table 10: Market segmentation in Argentina according to ATC groups, 2006 39
Table 11: Top 15 brands in Argentina, 2006 42
Table 12: Key demographic indicators for Mexico, 2005 53
Table 13: Mexico -average annual growth rates of GDP and exports (%), 1986-2010 56
Table 14: Key economic indicators for Mexico, 1986-2006 57
Table 15: Health expenditure indicators in Mexico, 2004 62
Table 16: Growth of the Mexican market in terms of sales volume, 2003-06 74
Table 17: Average cost of unit sold, 2003-06 75
Table 18: Top 15 drug manufacturers in Mexico in 2006 76
Table 19: Growth of ATC group split in the Mexican market, 2006 77
Table 20: Top 15 brands in 2006 in Mexico 80
List of Figures
Figure 1: Key macroeconomic factors and healthcare system characteristics impacting the pharmaceutical industry in Argentina, 2008 11
Figure 2: Pharmaceutical market dynamics in Argentina, 2008 12
Figure 3: Structure of health system financing and provision in Argentina 22
Figure 4: The size of the Argentinean retail pharmaceutical market, 2002-06 34
Figure 5: Sales growth and CAGR for the top ATC groups in Argentina 40
Figure 6: The relative market share for each ATC group in Argentina is very similar to the six major markets 41
Figure 7: Clinical trial protocols assessed and approved, 1994-2006 48
Figure 8: Multinational pharmaceutical companies sponsor the majority of clinical research in Argentina 49
Figure 9: Advantages and disadvantages of carrying out clinical trials in Argentina 50
Figure 10: Key macroeconomic factors and healthcare system characteristics impacting the pharmaceutical industry in Mexico 51
Figure 11: Pharmaceutical market dynamics in Mexico 52
Figure 12: The three pricing regulations in Mexico 69
Figure 13: Decision process for listing pharmaceuticals on the Basic Formulary and the Catalogue of Inputs 71
Figure 14: The size of the Mexican retail pharmaceutical market, 2002-06 73
Figure 15: Sales growth and CAGR for the top ATC groups in Mexico, 2006 78
Figure 16: The relative market shares of each ATC groups are very similar between Mexico and the six major markets 79
Figure 17: Advantages and disadvantages of carrying out clinical trials in Mexico 85