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Research and Markets: The Latest Report on the Colombian Pharmaceuticals and Healthcare Market is Now Available: Providing Up-to-Date Analysis', Statistics & Forecasts(M2 PressWIRE Via Acquire Media NewsEdge) RDATE:08102008 Dublin - Research and Markets (http://www.researchandmarkets.com/research/ada02d/colombia_pharmaceu) has announced the addition of the "Colombia Pharmaceuticals and Healthcare Report Q3 2008" report to their offering. Colombia Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Colombia's pharmaceuticals and healthcare industry. Updated forecasts for Colombia in line with its improved forecasting methodology and in line with the broader strength of the Colombian economy and growing foreign direct investment (FDI). Colombia s pharmaceutical market reached a value of US$2.36bn in 2007 and is now forecast by BMI to reach a value of US$6.14bn by 2012. This represents a 10.7% underlying average annual growth rate for 2008- 2012 in US dollar terms, after accounting for forecast inflation. Colombia s President lvaro Uribe scored a series of major successes against the Revolutionary Armed Forces of Colombia (FARC) rebels, culminating in the rescue of Ingrid Betancourt and other high-profile hostages, following the deaths of several members of the group s leadership and a leading field commander. BMI remains cautious for now about security FARC will seek to reassert itself through violent and high-profile actions but if Uribe can solidify these security gains, the already attractive environment for FDI will improve. Other question marks include whether Uribe will seek to change the law to seek a third term in 2010. Political stability has some way to go, but the upside potential for the wider business environment is immense. Colombia s public-private healthcare insurance system remains under considerable strain despite the reform and semi-privatisation of the Institute for Social Security (ISS) in 2006. In May, the Colombian government reportedly bailed out 15 health insurers with a COP226bn (US$120mn) payout, as research showed that costs had outstripped revenues for the insurers between 2005 and 2007. Reports also indicate that the private sector insurers continue to seek to recruit healthier ISS members namely those under 40 - to improve their balance sheets. US pharmaceutical giant Pfizer has reportedly been among large US companies lobbying for the ratification of the Free Trade Agreement (FTA) with Colombia, which the US Congress has yet to vote on after nearly two years since its signing in 2006. With the both the presidency and control of Congress up for grabs in November, it seems increasingly unlikely that US domestic political considerations will allow ratification this year. The Colombian government had undertaken a number of commitments to improving intellectual property (IP) and other rules under the FTA. But the next US president and Congress could re-shape the deal including watering down tougher IP provisions for the pharmaceutical industry. A less watched but also important pact, between the Andean Community and the EU, also remains stalled. Slow progress on the FTA should at least benefit local producers, giving them more time to solidify local market positions and enter new regional markets. In early July 2008, it was announced that local pharmaceutical producer Tecnoqu micas would sell 10% of its shares to the International Finance Corporation (IFC) in exchange for around US$25mn to help the company expand regionally in Central and South America. Local media also reported that Brazilian investment group GP Investments was negotiating a deal to invest up to US$150mn in local producer Lafrancol, although no deal was finalised. Key Topics Covered: - Colombia Pharmaceutical And Healthcare Industry SWOT - Colombia Political SWOT Analysis - Colombia Economic SWOT Analysis - Colombia Business Environment SWOT Analysis - Pharmaceutical Business Environment Ratings - Colombia Market Summary - Pricing And Reimbursement Issues - Industry Developments - Recent Pharmaceutical Company Developments - Industry Forecast Scenario - Overall Market Forecast - Key Growth Factors - Prescription Market Forecast - OTC Market Forecasts - Generics Market Forecast - Medical Device Market Forecast - Export/Import Forecasts - Competitive Landscape - Leading Multinationals - Indigenous Manufacturers Companies Mentioned: - GlaxoSmithKline (GSK) - Pfizer - Merck & Co - Sanofi-Aventis - Novartis - Indigenous Manufacturers - Tecnoqu micas - Lafrancol - Brussi For more information visit http://www.researchandmarkets.com/research/ada02d/colombia_pharmaceu CONTACT: Laura Wood, Senior Manager, Research and Markets Fax: +1 646 607 1907 (US) Fax: +353 1 481 1716 (Rest of World) e-mail: [email protected] ((M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). Copyright ? 2008 M2 Communications Ltd. |