Research and Markets (http://www.researchandmarkets.com/research/def8bb/argentina_pharmace) has announced the addition of the "Argentina Pharmaceuticals and Healthcare Report Q2 2010" report to their offering.

“Argentina Pharmaceuticals and Healthcare Report Q2 2010”

The Argentina 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 Argentina's pharmaceuticals and healthcare industry.

BMI forecasts that the value of the Argentinean pharmaceutical market will decline in 2009, with the market shrinking almost 10% in US dollar terms to reach ARS12.47bn (US$3.37bn) for the year. Through to 2014, BMI forecast a compound annual growth rate (CAGR) of 15.4% in local currency terms, with the market value topping ARS25.52bn (US$5.55bn). 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 Q210, 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. According to ambito.com, in January 2010, a federal judge ordered that the former manager of the medicine regulatory body within the Ministry of Health be retained in prison, while the case against him is being heard. The manager as well as a number of other officials (including the owners of the drugstore chains BioDrugs SA and San Javier) stands accused of mismanagement of government tenders and of the knowingly trafficking adulterated medicines for the treatment of HIV and cancer.

Nevertheless, foreign companies seem to be increasing their interest in Argentina, eyeing longer-term growth opportunities. Indian pharmaceutical manufacturers, for example, are disadvantaged by the fact that they cannot import finished formulations into the country and are instead planning to expand in Argentina through a combination of acquisitions (such as Lupin Pharma) and direct manufacturing presence (such as Glenmark). On the other hand, companies from developed markets, such as Japans largest drugmaker Takeda, are also targeting the purchase of a generic drugmaker in the region. The above trend will be encouraged further by news that the Argentinean government recently launched a plan to develop the country's medical tourism industry. While BMI believes that the country faces serious underlying issues with respect to the management of its public healthcare system, and that the expansion of the private sector through tourism will divert attention away from improving healthcare provisions for the country's citizens, the fact remains that Argentina is already a popular destination for elective surgery. Therefore, it seems plausible that the government is looking for ways to generate revenues through alliances between tourism, health authorities and the private sector, although for this to succeed much will have to be improved in relation to state management of finances and resources.

Source: web of the medical news