Novartis Launches 'Medical Remittances' in Guatemala

Expatriates in the U.S. will be able to purchase medicines for their relatives in Guatemala.

Friday, October 9, 2009

Drugs and medicines can be purchased from any city in the U.S. and delivered to homes in Guatemala, with a $1 surcharge.

Novartis inaugurated this program in alliance with Meykos drugstores, Money Gram and Western Union.

Novartis marketing chief, Fernando Martínez, was interviewed by local newspaper El Periodico, and quoted as saying: "Customers sending remittances want to be sure that medicinal costs are covered, and this opens a business opportunity".

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Guatemala: Competition for Remittances

May 2012

$4.5 billion a year comes from the U.S., generating a fierce battle between 22 banks and transfer companies that compete for the market.

The stiff competition for larger pieces of the cake that makes up remittances is leading banks and financial companies to sign alliances and join forces.

Remittances for $13.06 billion to Central America in 2011

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By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.

Inter-American Development Bank Report:

Remittances to Latin America and the Caribbean rose to $61 billion in 2011

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Remittances to Honduras Increase 18%

September 2009

The Institute for Migratory Policies reported an increase in remittances from the U.S., starting July.

According to analysts, such increase would be directly related to the political crisis experienced in the country after the coup d'état. reports: "Carlos Pereira, executive director of the Center for Immigrant Orientation (CODI), explained that his organization has launched a campaign exhorting Hondurans living in the U.S. to increase remittances to their country".