This report offers companies, investors, policymakers, and stakeholders crucial insight into the rich ecosystem of pharmaceutical companies in Colombia, based on in-depth interviews conducted with leaders and pioneers across the value chain, from government representatives, country managers of the world’s leading biopharmaceutical companies, representatives from local SMEs and service providers, and the leading figures from Colombia’s rich network of research and educational institutes.
With steady GDP growth, political stability and the best healthcare system in Latin America, Colombia’s life sciences industry has all the ingredients for success laid out before it. Indeed, with the domestic pharmaceutical market set to grow at a rate of around 7.3 percent and reach a USD 7.1 billion valuation by 2020, coupled with a booming medical device market set to reach USD 1.8 billion in the same time frame, Colombia is carving out a name for itself as the new place to be.
This report features interviews with the representatives of numerous multinational companies eager to capitalize on this favourable scenario and ramp up their footprint in Colombia; not only merely in terms of establishing local affiliates but also opening regional headquarters and implanting managerial functions, partly due to the lack of ‘local content’ restrictions seen elsewhere in Latin America.
Interviews
The report features in-depth interviews with:
Alejandro Gaviria, Minister of Health and Social Security
Felipe Jaramillo, ProColombia
Juan Gabriel Perez, Invest in Bogota
Emilio Sardi, Tecnoquimicas
Carlos Estrada, Roche
Pierre Faraldo, Biopas
Hector Robles, Laboratorios Sophia
Quotes
“I am confident that the worst is behind us and that the Colombian healthcare system will continue to be an example for the region and a source of pride for the country.” –Alejandro Gaviria, Minister of Health and Social Security
“For decades, Colombia was associated with conflict, but has now become a hub for foreign investment and tourism.” –Felipe Jaramillo, ProColombia
“Globally, we can now be considered a pharmerging nation given that our industry is outpacing most traditional markets.” –Rodrigo Arcila Gomez, ANDI
“Colombian public healthcare incontestably rates as the best in Latin America with close to 97 percent coverage.” –Francois Leger, Servier
