Key Developments in Latin America and Europe

Regulatory developments in Latin America

There have been several pharmaceutical regulatory developments in Latin America this week. In Mexico, the renewal registration process is affecting smaller pharmaceutical producers, while in Peru, the new regulation for pharmaceuticals is expected to increase the quality of drugs approved in the country. In Colombia, Abbott has finally decided to comply with the national pricing commission and reduce the price of one of its antiretrovirals sold in the country.

Manufacturing developments in Europe

There have also been interesting developments in Europe. In Germany, the race to acquire ratiopharm is coming closer to an end, with two leading generic producers, Teva and Actavis, interested in the acquisition. In Ireland, Taro Pharmaceuticals has announced that it is to close its manufacturing facility by the end of March. Meanwhile, Medis International has opened a new packaging plant in Czech Republic and a local biologic producer, Philogen, has acquired a manufacturing site from Bayer in Italy.

Further reading - Detailed reports on these pharmaceutical markets are available from Espicom: Mexico, Peru, Colombia, Germany, Ireland, Czech Republic and Italy.

Cost-containment measures restricting pharmaceutical market growth

Cost-containment policies continue to affect underdeveloped, emerging and mature pharmaceutical markets. In Asia Pacific, for example, the Philippines is expected to announce a second drug-price list in mid February. This would be the second time it has happened in less than one year. Hospital drug price negotiations in Taiwan are increasing drug access but, as a result, some problems have arisen in the pharmaceutical supply chain.

Eastern European pharmaceutical markets are not immune to cost-containment policies. Drug companies in Russia have been forbidden from raising the prices of essential medicines. There are concerns whether this move could make the production of some medicines loss-making. Meanwhile, pharmaceutical producers have delayed their rebates in Romania, a small but growing pharmaceutical market.

In the more mature Western European pharmaceutical markets, pricing & reimbursement policies are generalised, with recent cuts seen in Ireland and Germany. Hospital drug debt levels, particularly common in more Southern European pharmaceutical markets, can also impact pharmaceutical producers. Following the pledge by the European Union to support Greece economically, it remains to be seen how Greek authorities plan to pay off their outstanding hospital drug debts.

Further reading - In-depth reports on the pharmaceutical markets in these countries, including detailed information on pricing & reimbursement, are available from Espicom: Philippines, Taiwan, Russia, Romania, Ireland, Germany and Greece.