Boston, MA -- (SBWIRE) -- 08/29/2013 -- Under the Pacific Alliance agreement, Chile, Peru and Colombia will recognise medicine registrations issued by COFEPRlS and allow easy entry to pharmaceutical products approved by the organisation. Mexico's well-recognised drug approval standard among Latin American countries should encourage multinationals to launch more products in the country and pave the way for an integrated pharmaceutical market among Pacific Alliance member states. Multinationals and Mexican drugmakers will enjoy faster access to markets in the member states, and local consumers will immediately have higher quality and potentially lower priced medicines available.

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Headline Expenditure Projections

- Pharmaceuticals: MXN176.00bn (US$13.38bn) in 2012 to MXN191.342bn (US$15.56bn) in 2013; +8.7% in local currency terms and +16.3% in US dollar terms. Forecast decreased from Q313 due to changes in macroeconomic forecasts.
- Healthcare: MXN957.76bn (US$72.82bn) in 2012 to MXN1,032.83bn (US$83.97bn) in 2013; +7.8% in local currency terms and +15.3% in US dollar terms. Forecast decreased from Q313 due to changes in macroeconomic forecasts.

Risk/Reward Rating: Mexico scores 60.6 in BMI's Pharmaceutical and Healthcare Risk/Reward Rating (RRR), making it the fifth-most attractive pharmaceutical market in America. We have re-weighted the RRR components this quarter to improve the tool, and adjusted scores for all markets in our Pharmaceuticals & Healthcare reports.

Key Trends And Developments

- In June 2013, COFEPRlS signed an agreement with Chile, Peru and Colombia as part of the implementation of Pacific Alliance. This was formed in June 2012 to group the four nations within a framework that allows the free circulation of goods, services, capital and persons among its member states.
- In June 2013, COFEPRIS reported that in the last 18 months the organisation approved nearly 16,000 health products.
- In May 2013, Mexico's Coca-Cola FEMSA, which is majority owned by beer and soft drinks multinational FEMSA, acquired Farmacias FM Moderna, a leading pharmaceutical retailer in Sinaloa. This transaction follows the acquisition of 75% stake in Mexican pharmacy chain Farmacias YZA in November 2012, as FEMSA advances in its strategy to open up a new avenue for growth in Mexico's retail pharmacy sector.
- In April 2013, Federal Commissioner Andoni Mikel Arriola Penalosa stated that Cofepris confiscated 135 tons of illegal drugs to date in 2013. More than 1mn units of 'miracle' products were withdrawn in February 2013 following increased operational outcomes, Penalosa mentioned.

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