Salvadoran Pharmaceutical Industry Investment Stalled
Lack of legislation encouraging growth of the industry is holding up about $50 million in potential investments.
Monday, June 18, 2012
Mario Ancalmo, president of the Association of Pharmaceutical Chemical Industry in El Salvador (Inquifar) noted that at the moment there are only investments in small works to improve existing facilities, but no company is backing large investments in infrastructure, and this is a result of uncertainty in the sector generated by the recent approval of the Medicines Act.
Pharmaceutical unions in El Salvador have denounced the regulations determining maximum pricing as being contradictory to the Medicines Act
Authorities announced that all regulated sales of drugs will likely experience a progressive reduction in prices, which by law must adjust to international averages.
Salvadoran industrialists resent the high value of electricity bills, the second most important factor in the cost structure.
Pharmaceutical industry representatives have expressed concerns about the regulation of the recently passed Medicines Act, noting that it will produce distortions in the functioning of the market.
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