ARGENTINE FIRM LOOKS TO EXPAND

Argentina is one of the Latin American countries that is fighting to turn around its economic and political fortunes. Since Carlos Menem became president of the country, and Domingo Cavallo took on the position of Minister for the Economy, Argentina's economy has experienced a dramatic turnaround, two main features being the move from hyperinflation to a level of 0.35% for the month of May, and the privatization of state industries.

In January of the current year, Decree 150 announced the deregulation of the pharmaceutical industry, from product registration to distribution of medicines.

Doctors have to prescribe products by their generic name, but they can be obtained from outlets other than pharmacies, such as supermarkets, if the product is approved. Registration for manufacture can be obtained within 40 days, and for the importing of medicines, approval is effective immediately.