Boston, MA -- (SBWIRE) -- 03/18/2013 -- BMI View: Mexico's relatively low-cost business environment, growing domestic pharmaceutical market and the improving regulatory regime have made it an attractive market to multinationals. The improved performance by market regulator COFEPRIS has allowed Mexico to acquire a reputation for early, speedy approvals of medicines that meet urgent local epidemiological needs and allow direct access to other robust growing pharmaceutical markets in Latin America..

Headline Expenditure Projections

- Pharmaceuticals: MXN176.00bn (US$13.36bn) in 2012 to MXN191.58bn (US$14.97bn) in 2013; +8.9% in local currency terms and +12% in US dollar terms. Forecasts increasefrom Q113 due to improving industry environment.
- Healthcare: MXN965.46bn (US$73.31bn) in 2012 to MXN1,046.9bn (US$81.79bn) in 2013; +8.4% in local currency terms and +11.6% in US dollar terms. Forecasts increase from Q113 due to improving industry environment.

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Risk/Reward Rating: The Pharmaceutical and Healthcare Risk/Reward Rating (RRR) in Q213 for Mexico remains the same as in Q113. 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 reweighting 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.. Mexico has a RRR score of 58.4 out of 100, making it the 4th most attractive pharmaceutical market in America.

Key Trends And Developments

- In November 2012, El Salvador and Ecuador recognised medicine registrations issued by the Mexican Federal Commission for Protection Against Sanitary Risks (COFEPRlS) and allowed easy entry for pharmaceutical products approved by the organisation. It is derived from COFEPRIS' reorganisation by the Pan-American Health Organization (PAHO) and the World Health Organization (WHO) as a National Regulatory Authority of Regional Reference of Medicines and Biological Products. The recognition has reflected an improving regulatory regime in Mexico and fostered confidence among Latin American countries to allow medicines approved by COFEPRIS to entry their domestic markets with simplified process. We note that Chilean government has also signed an agreement with Mexico to allow pharmaceutical products registered in Mexico to enter Chile directly.

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