Perspectives for the Pharmaceutical Sector

In El Salvador, companies in the pharmaceutical industry plan to achieve 5% growth in exports of their products this year.

Wednesday, August 22, 2018

A rebound in sales to Honduras and the opening of new markets is what is behind the projection of growth that the Association of Chemical-Pharmaceutical Manufacturers of El Salvador (INQUIFAR) has for this year.

See also "Central America: Pharmaceutical products in I quarter 2018"

The president of INQUIFAR, Carmen Estela Pérez, explained to Eleconomista.net that "... Last year Honduras had a political problem that caused the economy to fall. In addition to that, the country changed its health authority. Before it was the Ministry of Health (of Honduras) that kept registrations, but in that country they formed a sanitary regulatory authority. In that transition period, we had problems with sanitary registrations."

"... Pérez predicts that by 2018 the sector will recover what was lost in Honduras last year and a little more. 'I believe that 5% growth will be healthy enough. Our exports speak well of us. Every time we have more and better presence in our destination countries. We are exploring other countries and we have complied with the standards of good manufacturing practices, which elevates us to other standards on an international scale. We believe that this industry can contribute even more'."

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From January to September 2019, pharmaceutical product imports in Central America totaled $2.614 million, 8% more than in the same period in 2018, with El Salvador, Panama and Costa Rica being the markets where purchases increased the most.

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Rejection of Chinese Medicines

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Next year the sector expects to exceed the 12% growth in sales abroad seen between 2014 and 2015, by going to new markets in Africa and South America.

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El Salvador: Over Pricing of Medicines

April 2014

The pharmaceutical industry claims that the Ministry of Health paid 160% more for drugs purchased from foreign suppliers and that there is no transparency in tenders.

The Association of Chemical-Pharmaceutical Industrialists in El Salvador, INQUIFAR, reports that since 2011 the Ministry of Health has shifted away from the domestic industry in the purchase of medicines for the public hospital network, making direct contracts and demanding manufacturing rules that are specific to other countries and not those in force in the country.

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