Boston, MA -- (SBWIRE) -- 02/14/2013 -- BMI View: The political instability and underdeveloped economies in many Central American countries make the region less attractive to multinationals, compared with most neighbouring countries. However, the heavy reliance on imported medicine in the region provides revenue-generating opportunities for generic drugmakers from neighbouring Latin American countries and India. We highlight that Costa Rica and Panama can be the premier countries in the region for foreign drugmakers to expand their presence.

Headline Expenditure Projections

- Pharmaceuticals: US$3.3bn in 2011 to US$3.5bn in 2012; +5.5% in US dollar terms. Our forecast has been revised slightly upwards since Q412 due to improved historical data.
- Healthcare: US$13.51bn in 2011 to US$14.68bn in 2012; +8.6% in US dollar terms. Our forecast has been revised upwards since Q412 due to improved macroeconomic factors.

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Risk/Reward Ratings: In BMI's Q113 Pharmaceutical Risk/Reward Ratings (RRRs), based on our analysis and assessment of the market's appeal to pharmaceutical companies, the Americas region continues to rank second lowest globally with a score of 49.4 out of 100; behind Western Europe (66), Asia Pacific (53) and Central and Eastern Europe (51), but ahead of the Middle East and Africa (44). Of the seven Central American countries surveyed, Costa Rica's RRR score has changed in Q113, up from 39.2 in Q412 to 40.7 this quarter, reflecting the country's increasing attractiveness to multinational drugmakers. Meanwhile Honduras' RRR score has reduced from 31.5 in Q412 to 28.5 in Q113.

Key Trends And Developments

- In October 2012, a proposal to amend biomedical research regulations in Costa Rica was submitted to the legislative assembly by the University of Costa Rica (UCR) and private sector representatives. The assembly is likely to approve changes to Draft Law No. 17,777 when it votes on the issue. The new text covers several areas, including the status of research participants and improving the management and control bodies of biomedical research. The main goal of the legislation is to monitor the fundamental rights of people involved in scientific research, UCR president Henning Jensen Pennington said.
- In October 2012, German multinational drugmaker Bayer warned that a batch of Claribac (clarithromycin) antibiotics that did not meet quality standards has been leaked to El Salvador's unregulated pharmacies. The director of the National Drug Agency, Vicente Coto, said the medicines with lower active ingredient concentration than required should be destroyed according to the country's good manufacturing practice standards. Bayer said 47,320 units of medicine were stolen from its production plant in El Salvador and they were very unlikely to enter the country's authorised pharmacies.

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