Market Report, "Colombia Pharmaceuticals & Healthcare Report Q4 2013", Published
Improvements in Colombia's pharmaceutical regulation system will increase access to medicines for local patients. However, it will also put pricing pressure on drugmakers, which will undermine the growth of the patented drug market. Nevertheless, on account of the country's strong economic growth and the government's commitment to improve its regulation regime, more foreign pharmaceutical companies will invest in Colombia to capitalise on its long-term growth prospects.
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