Argentina's pharma market to almost triple over one decade, says GlobalData

Argentina’s pharmaceutical market is expected to grow from a value of around $5.6 billion in 2012 to $15 billion by 2020, thanks to a strong presence of domestic laboratories, high-quality manufacturing capabilities and favorable clinical trial regulations, cites new analysis by research and consulting firm GlobalData.

According to the new report, domestic laboratories account for over 50% of the Argentine pharmaceutical market. Key domestic companies include Roemmers and Bago, while multinationals such as Bayer, Novartis, Roche, Abbott and GlaxoSmithKline also operate in the country.

The trend towards domestic pharma production has existed for several decades in Argentina. Local players are provided with government benefits such as favorable tariff protection, while raw material import costs historically undercut the transfer pricing generally applicable for multinationals. This gives domestic players a competitive advantage in Argentina, the report notes.