Argentina

General Healthcare Indicators

•   Population (Mn): 40.8
•   No. of hospital beds per thousand population: 4.1
•   Physician per ten thousand population: 3.01
•   Total health expenditure, as % of GDP: 8.1%
•   Births per thousand population: 17.72
•   Population with drug access: 50%

Market Overview

•   Pharmaceutical sales: $7.582Bn
•   Pharmaceutical sales, per-capita: $186
•   Pharmaceutical sales, % of health expenditure: 20.10%
•   Pharmaceutical Exports: $784.5Mn
•   Pharmaceutical Imports: $1,743.8Mn

Pricing and Reimbursement

•   Prices are low due to competition, price freezes and the existence of a form of therapeutic reference pricing
•  Prescription medicines can be reimbursed for up to 70% of their value, under social welfare schemes such as the obrassociales and PAMI
•   OTCs are not eligible for reimbursement
•   Argentina’s reimbursement system is more comprehensive than most other Latin American countries

Regulatory Environment

•   The main regulatory authority in Argentina is the National Administration of Drugs, Foodstuffs & Medical Technology (ANMAT)
•   ANMAT is not an independent agency as it is under the direct supervision of the Ministry of Health (Minsa).
•   Argentina has no clear rules obliging manufacturers to prove bioequivalence before introducing a new generic product
•   Despite a modern Patent Law introduced in October 2000, the copying of brand-name pharmaceuticals remains a significant and lucrative part of the national pharmaceutical industry

SWOT Analysis

Strengths:
•   Continued economic growth
•   Increasing demand and consumption of hi-tech medicines
•   Well-developed local drug industry, with the pharmaceuticals sector accounting for around 16% of industrial GDP

Weakness:
•   Heavily biased government policies towards local drug producers
•   Aggressive drug price controls
•   Below international standards patent laws
•   Poor regulatory conditions

Opportunities:
•   Government cost control and relatively low consumer incomes should benefit the generic and OTC drug sectors
•   Investment by foreign and local generic drug firms could drive the market recovery, development and modernization

Threats:
•   Continued government resistance to aligning domestic patent law with international norms will prevent any substantial increase in multinational activity
•   Failure to revise biased pricing policy will prevent multinational expansion in the market

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