Price Hikes Drive Latin America's Pharma Market

5 June 1997

Although Latin America saw pharmaceutical sales grow 8% in value termsin 1996 compared with 1995, underlying this was a marked downturn in unit growth, according to data from IMS International. However, throughout most of the region, this was counterbalanced by a renewed increase in average prices. Sales are reported in US dollars (at the prevailing exchange rate) and by retail pharmacy outlets.

Brazil, the largest market by far, remained the principle source of growth, seeing a 15% rise. The key driver was price, with units increasing only modestly. The market in Argentina was relatively stable, with unit sales down although prices continued to rise, says IMS, keeping the country at the head of the region in terms of average price.

Recovery In Mexico The recovery in Mexico, which strengthened towards the close of the year, was again due mainly to improved prices, the IMS study indicates. Colombia showed stronger growth in both average price and units, while Puerto Rico, Chile and Ecuador all experienced sales growth in double digits.

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