Boston, MA -- (SBWIRE) -- 12/24/2013 -- Domestic pharmaceutical companies in Argentina are more competitive than many other Latin American drugmakers. Unlike neighbouring country Brazil, which can lure multinationals to supply advanced technologies in exchange for a secure market share in its attractive drug market, innovative developments in Argentina are mostly self-initiated or from collaborations with other developing countries.

The freeze or downscaling of local operations from multinationals has also indirectly provided more scope for expansion to Argentinean drugmakers. In addition, local manufacturers have expanded in other emerging market to offset the negative impact of limited growth in their domestic markets and increasing competition from other low-cost generic drugmakers.

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Headline Expenditure Projections

Pharmaceuticals: ARS35.2bn (US$7.7bn) in 2012 to ARS44.8bn (US$8.2bn) in 2013; +27.0% in local currency terms and +6.1% in US dollar terms. These figures have been revised upwards since Q413 due to macroeconomic forecast changes.

Healthcare: ARS185.6bn (US$40.8bn) in 2012 to ARS228.3bn (US$41.9bn) in 2013; +22.8% in local currency terms and 2.6% in US dollar terms. These figures have also been revised upwards since Q413 due to macroeconomic forecast changes.

Risk/Reward Rating: Argentina scores 58.2 in BMI's Pharmaceutical and Healthcare Risk/Reward Rating (RRR), making it the sixth-most attractive pharmaceutical market in America. We have re-weighted the RRR components to improve the tool, and adjusted the scores for all markets in the Pharmaceuticals & Healthcare reports. Argentina's pharmaceutical market is expected to grow at double-digit rates through to 2016 in local currency terms, largely due to inflation.

Key Trends And Developments

- In September 2013, Argentina's National Drug Regulatory Agency (ANMAT) published new rules for the seizure of fake batches of medicine.
- In the same month, Sanofi invested US$11.7mn to expand two of its manufacturing facilities in the province of Buenos Aires.
- In September 2013, ANMAT signed an agreement with the National Agency of Scientific and Technological Promotion (ANPCyT) to set up a centre for the evaluation and control of biological, biotechnology and radiopharmaceutical products. The centre will also monitor product safety and efficiency issues, and promote use of high-technology products in Argentina's public healthcare sector
- In July 2013, Laboratorios Richmond launched its Virontar drug to prevent further multiplication of HIV/ AIDS.

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