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.
New distributors, more chain pharmacies and new alliances are examples of the dynamism in the sector.
Two bills before the Guatemalan Congress are seeking free competition in medicines, including foreign manufacturers.
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