Boston, MA -- (SBWIRE) -- 06/08/2012 -- BMI View: Brazil remains the most attractive emerging pharmaceutical market in the Americas due to its large population, strong consumer demand, increasing urbanisation and comparatively good drug regulatory environment. Many multinational pharmaceutical companies reported double digital growth during Q411. We expect foreign drugmakers to engage in more collaborations with local companies to capitalise on the rapid market growth and the government's incentives to promote the local industry.

Headline Expenditure Projections

- Pharmaceuticals: BRL42.88bn (US$25.60bn) in 2011 to BRL47.92bn (US$27.54bn) in 2012; +11.7% in local currency and +7.6% in US dollars. Forecast changed slightly from Q112.
- Healthcare: BRL346.51bn (US$206.87bn) in 2011 to BRL381.97bn (US$219.52bn) in 2012; +10.2% in local currency and +6.1% in US dollars. Forecast changed slightly from Q112.
- Medical devices: BRL7.83bn (US$4.68bn) in 2011 to BRL8.60bn (US$4.94bn) in 2012; +9.7% in local currency and +5.6% in US dollars. Forecast changed slightly from Q112.

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Risk/Reward Ratings: BMI's average Pharmaceuticals Risk/Reward Rating (RRR) for the 17 Americas markets has fallen slightly to 50.1 out of 100 in Q212. Brazil's composite pharmaceutical rating is unchanged at 62.8 and the country is still fourth in the regional matrix.

Key Trends And Developments

- In January 2012, as part of the government's plan to boost the local healthcare industry, domestic medical equipment manufacturers and drugmakers are able to charge up to a 25% premium over foreign products on government purchases. This strategy will also allow the government to negotiate discounts with foreign producers, as well as encouraging them to manufacture in Brazil.
- In February 2012, Merck Sharp & Dohme (MSD) established a new joint venture (JV) with Supera Farma Laboratorios, a Brazilian pharmaceutical company co-owned by Cristalia and Eurofarma. The deal will allow MSD to market, distribute and sell 30 innovative and branded generic medicines from the parent companies solely in the Brazilian retail sector. While the companies will continue to operate separately in Brazil, the new JV, which is 51% owned by MSD, will run independently, including its own sales force, but leverage the parent companies' infrastructure, including sales training and a leadership team. Merck & Co chief executive Kenneth Frazier said it 'is an important step in our strategy to grow our business in key markets and improve global access to our medicines and vaccines'.
- In January 2012, Sanofi Pasteur announced that Brazil chose to introduce its injectable polio vaccine to its national immunisation programme. The inactivated polio vaccine (IPV) will be administered through the Institute of Technology in Immunobiologicals of the Fundacao Oswaldo Cruz (Fiocruz). Patients will receive two doses of the IPV followed by two of the oral polio vaccine (OPV).

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