Argentina's pharmaceutical business environment still impacted by IP deficiencies, notes BMI

The Argentinean pharmaceutical market is expected to have declined in 2009, with the market shrinking almost 10% in US dollar terms to reach ARS12.47 billion Argentinean pesos ($3.37 billion) for the year. Through to 2014, Business Monitor International forecasts compound annual growth rate (CAGR) of 15.4% in local currency terms, with the market value topping 25.52 billion ($5.55 billion). A slower growth in US dollars is precluded by the weak peso, which is expected to continue depreciating in the coming years from its high of below three to a dollar prior to 2006.

Meanwhile, in BMIs Business Environment Ratings (BER) table for first-quarter 2010, Argentina improved its position by one place and is now ranked sixth in the Americas region as it emerges from economic downturn.
Although the long-term fundamentals of the market remain strong, Argentina's pharmaceutical business environment still suffers from a number of intellectual property (IP) environment deficiencies, including a massive patent application backlog and the lack of protection of undisclosed test data and other information. The problems are compounded by the involvement of high-profile individuals and state officials in the so-called drug 'mafia.'