Brazil takes control over its pharma market, but generics threaten to cut future profits

Continuous support from the government is helping the Brazilian pharmaceutical market to expand at a compound annual growth rate (CAGR) of 9%, and to make its own mark on the global industry, says a new report by health care experts GBI Research.

The new report states that Brazil has a population of around 190 million, representing a gigantic audience for the pharmaceutical industry. The country is beginning to build a reputation for its high-quality clinical trials and biodiversity, and consequently Brazil is attracting foreign pharma giants, yet also looks to support local companies.

The National Health Surveillance Agency (ANVISA), under the patronage of the Ministry of Health, is the main regulatory authority in Brazil. According to ANVISA's RDC 59/00 regulation, foreign firms looking to export to Brazil must submit an inspection request through representatives or registered importers, in order to certify products. This represents a significant obstacle to smaller foreign drugmakers wishing to enter the Brazilian market, and has led to partnering agreements between multinational pharmaceutical firms with local players in Brazil.