Research and Markets (http://www.researchandmarkets.com/research/22a03a/chile_pharmaceutic) has announced the addition of the "Chile Pharmaceuticals and Healthcare Report Q4 2009" report to their offering.
The Chile Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Chile's pharmaceuticals and healthcare industry.
In the Q409 Business Environment Ratings (BER) for the 10 markets of the Americas, Chile's composite score continued to worsen, with the country now placed eighth overall. Generally speaking, Chile's attractiveness as a destination for pharmaceutical investment suffers from low retail prices for medicines and the fact that reimbursement is minimal, despite the recent expansion through the flagship Universal Access and Explicit Guarantees (AUGE) healthcare plan. While formal pricing restrictions are relatively limited, retail competition will continue to hamper faster value development of the pharmaceutical market, especially during the currently adverse economic situation. In the meantime, deficiencies in the country's intellectual property (IP) environment will continue to deter foreign direct investment (FDI). Overall, therefore, we forecast that the market will grow at a modest compound annual growth rate (CAGR) of 4.40% in local currency terms, from CLP635bn (US$1.21bn) in 2008 to CLP787bn (US$1.70bn) in 2013.
Although larger regional markets such as Brazil continue to attract most international attention, Chile is also aiming to increase foreign interest in its pharmaceutical research and development (R&D) programmes. To this end, in June 2009, the United States National Cancer Institute (NCI) and Chile's Ministry of Health formed a partnership that aims to accelerate progress on cancer research in the US and Latin America. Earlier in 2009, Chile and Cuba signed a memorandum of understanding (MoU) in the area of biotechnology. Chile is hoping that the deal will allow for a future technology transfer between the two countries in areas including human health and agriculture.