Per-Capita Pharmaceutical Spending in Chile is Due to Reach US$81.4 by 2012
DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c87842) has announced the addition of “Chile Pharmaceuticals & Healthcare Report Q1 2008” to their offering.
The Chile Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Chile's pharmaceuticals and healthcare industry.
The newly-extended five-year forecast for the Chilean pharmaceutical market foresees continued, strong single-digit growth through 2012, following estimated 7.7% year-on-year (y-o-y) market growth in 2007. With a five-year average annual growth rate of 5.9%, the expansion of the market is due to continue slowing, after 10.5% growth back in 2006. Per-capita pharmaceutical spending is due to reach US$81.4 by 2012, buoyed in part by increased government spending. The author forecasts that the total market will be worth US$1.42bn in 2012 in final consumer prices, roughly double its US dollar value in 2004.
Still, while her administration has taken steps to increase healthcare programmes, President Michelle Bachelet remains under intense pressure to increase healthcare and other social spending, as her popularity ratings have plummeted and her one-time supporters among the working poor and jobless have become increasingly restive. Government workers were the latest to stage protests demanding better conditions in November. Bachelet’s popularity continued to fall in late 2007, with her disapproval ratings outpacing her approval ratings by nearly 11 points in a September poll. With high commodity prices and the economy growing, the government badly needs to demonstrate that recent social investments are bringing real benefits.
Chile’s closely-held pharmacy sector has again become a focus of controversy. The country’s economic prosecutor said in November that it would probe business links between chains Cruz Verde and Salcobrand -- which, along with market leader Farmacias Ahumada, control around 90% of the country’s retail pharmacy market. It is understood that the authorities were concerned that Salcobrand now sources its generics from a wholesaler owned by the same group as Cruz Verde, as well as other ties between the owners of the two chains. Salcobrand was acquired by a local group earlier in 2007. At the same time, the pharmacy chains are under fire for refusing to supply the ‘morning after’ pill, despite a government decree. As 2007 drew to a close, the government was pursuing fines for the retailers as its research found that the vast bulk of pharmacies were refusing to stock the pill.
Chile’s pharmaceutical exports were expected to exceed the US$100mn in 2007, according to industry association Asilfa. Local player Laboratorios Andrómaco followed up on its September acquisition of three smaller Colombian drugmakers, with the purchase of 100% of Guatemala’s Iprofarma, one of the largest local players in that market and a maker of hormonal and contraceptive products. With the Free Trade Agreement (FTA) with the US putting competitive pressure on Chile’s local industry, expansion into less regulated markets in Latin America represents an important means to diversify risk and find new markets for their products. Meanwhile, US government officials and companies continue to push for more progress on intellectual property (IP) reforms while the Chilean government is struggling to keep cheaper local medicines on the market as it expands its flagship AUGE health insurance plan.
Companies Mentioned:
-- Laboratorios Andrómaco
-- Laboratorios Chile (LabChile)
-- Laboratorios Maver
From:
http://www.businesswire.com/portal/site ... ewsLang=en
even we Chileans may experience some "gringos like" inconveniences 
My husband speaks better spanish than I do and always gets better prices than I. For instance, I used to get my flour for $400/kilo, then one week the lady told me that it was $450/kilo. I was a bit surprised but I also knew that the prices of flour were going up so I didn't argue. My husband went the following week and he only paid $400/kilo. It happens quite frequently. He speaks the language better so he always gets good deals.
