Over the past few years, both Brazil and Venezuela have witnessed an increase in the production, growth, and acceptance of generic medicines in their respective healthcare systems.
Generic drug growth in Brazil and Venezuela
Generics/General | Posted 15/09/2023 0 Post your comment
Brazil has one of the largest pharmaceutical markets in Latin America and is a leader in the promotion and use of generic drugs.
In Venezuela, the generic drug market has experienced growth in the last five years, and its consumption by Venezuelans is also on the rise.
The introduction of generic drugs in Brazil began in 1999 with the Generic Drug Law, which allowed the registration and commercialization of generic versions of brand-name medications. Since then, the Brazilian pharmaceutical market has undergone many changes .
Recently, a new industrial plant of the pharmaceutical company Prati-Donaduzzi was inaugurated in Paraná. The project is the result of financing from the National Bank for Economic and Social Development (BNDES) approved in 2020. The company, which is the largest generic drug manufacturer in Brazil in terms of medication volume, received 264 million BRL in financing to modernize and expand its production capacity.
Currently, the pharmaceutical company produces approximately 13 billion therapeutic doses per year. With the newly inaugurated facility, the pharmaceutical company will be able to produce up to 17 billion doses of medications per year, representing an increase of approximately 40% in its supply. With the construction of the new plant and the modernization of the existing ones, the company becomes the largest tablet manufacturer in Latin America in terms of production capacity.
The project allows, among other things, to expand the supply of generic drugs in the Brazilian market. In Brazil, generic drugs represent 35.44% of the medicines sold in the country, resulting in significant cost savings for consumers .
On the other hand, the Venezuelan pharmaceutical industry has also maintained constant growth in recent years, largely due to the increase in production and sales of generic medications. The domestic production of generic drugs in Venezuela grew by 10% between January and April 2023. A total of 22.5 million units of generic medications were produced in the country during the first quarter of 2023, representing a difference of 1.9 million units more compared to the same period last year.
A total production of 59.5 million units of medications, in general, is mentioned during this period. However, the most important data is that three-quarters of the production increase (76%) in 2023 comes from generic drugs. The contribution of domestic laboratories, manufacturers of generics, sustains this growth and offsets the decline in performance of imported products.
LATIN AMERICAN FORUM
View the latest headline article: Biosimilares oftalmológicos en Canadá: la perspectiva de un prescriptor
Browse the news in the Latin American Forum!
Ver el último artículo de cabecera: Biosimilares oftalmológicos en Canadá: la perspectiva de un prescriptor
!Explore las noticias en el Foro Latinoamericano!
1. GaBI Online - Generics and Biosimilars Initiative. The generics market in Brazil [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2023 Sep 15]. Available from: www.gabionline.net/generics/research/the-generics-market-in-brazil
2. GaBI Online - Generics and Biosimilars Initiative. Market penetration of generic drugs in Mexico and Brazil [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2023 Sep 15]. Available from: www.gabionline.net/generics/general/market-penetration-of-generic-drugs-in-mexico-and-brazil
Permission granted to reproduce for personal and non-commercial use only. All other reproduction, copy or reprinting of all or part of any ‘Content’ found on this website is strictly prohibited without the prior consent of the publisher. Contact the publisher to obtain permission before redistributing.
Copyright – Unless otherwise stated all contents of this website are © 2023 Pro Pharma Communications International. All Rights Reserved.