Boston, MA -- (SBWIRE) -- 06/15/2013 -- We continue to view Colombia as a promising longer-term Latin American pharmaceutical market. It is currently the fifth-largest in the region, although its size is bolstered more by large population (of over 50mn) than by high per capita spending on medicines. Nevertheless, growing pharmaceutical demand will remain a substantial draw for foreign drugmakers.

Headline Expenditure Projections

- Pharmaceuticals: COP7,548bn (US$4.20bn) in 2012 to COP8,071bn (US$4.45bn) in 2013; +6.9% in local currency terms and +5.9% in US dollar terms. Forecast broadly in line with Q113.
- Healthcare: COP49,204bn (US$27.38bn) in 2012 to COP52,967bn (US$29.18bn) in 2013; +7.6% growth in local currency terms and +6.6% in US dollar terms. Forecast broadly in line with Q113, although historical figures increased substantially on the back of new data.

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Risk/Reward Rating: Colombia' Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI's proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Colombia has an RRR score of 55.4 out of 100, making it the seventh most attractive pharmaceutical market in the Americas region, which covers 17 countries.

Key Trends And Developments

- In January 2013, Baxter Laboratories (Colombia) announced that it has sold oral rehydration solution (ORS) Hidraplus to Colombian Tecnoquimicas, following approval from the Superintendent of Industry and Commerce. The move is part of Baxter's strategy to concentrate on production lines for hospital therapies and exit from products distributed via mass channels like drugstores.
- In the same month, BIAL - the largest Portuguese pharmaceutical group - was reportedly seeking to enter Colombia and Peru, although this should happen only in 2014, according to BIAL's CEO Alvaro Portela. The statement was made by Portela at the end of a business meeting between Canada and Peru, held in Lisbon, Portugal. BIAL has, two or three times, shown its interest to enter Peru and presently is negotiating a foray into the country through local businesses, Portela added.

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