Pharmaceutical Closes Operations in Costa Rica

Technofarma, distributor of pharmaceutical products, announced the permanent closure of operations.

Tuesday, March 8, 2011

The closing comes after spending 16 years in Costa Rica and was caused by contractual problems with its biggest customer, GlaxoSmithKline (GSK). This company accounted for almost 60% of its sales.

"Alejandro Esquivel Gerli, General Manager of the company, said the break came after Technofarma requested in December additional time to cancel a $ 362,000 order," according to the article in Elfinancierocr.com.

More on this topic

Costa Rica: Pharmaceutical Company Closes Production Plant

February 2017

In a timeframe of three years GlaxoSmithKline will be moving its manufacturing operation in Costa Rica to other plants in Latin America.

The manufacturer of medicines and medical supplies announced that the decision "... was made after reviewing its global manufacturing network and identifying available production capacity in other plants in Latin America.

Growing Pharmaceutical Market in Costa Rica

July 2015

In the last five years 63 new pharmacies and retail outlets began operating, reaching a turnover of $402 million in 2014, 70% more than in 2009.

In a market where large chain pharmacies are operating, sales have been growing steadily in recent years, reaching a turnover in 2014, of $402 million, according to data from Euromonitor.

Peruvian Pharmaceutical Company to Operate in Panama

October 2014

The ESKE Group has announced te opening of a distribution hub in Panama City to redistribute its generic lines imported from India and Europe and those manufactured in Peru.

Group ESKE, an importer of generic drugs from India and Europe and others that it manufactures at its plant in Peru, intends to establish in Panama a distribution hub for the entire region.

GSK Research Center in Panama

November 2012

British drugmaker GlaxoSmithKline has moved its Latin American clinical research and medical affairs center from Brazil to the Ciudad del Saber, Panama.

The transnational has taken advantage of the benefits provided by Panamanian law in terms of tax incentives, labor and migration, for companies who set up corporate offices in the country.

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