BMI View: The Brazilian pharmaceutical market has markedly declined in recent years in US dollar termsdue to the country's recession, limiting potential returns for drugmakers. Despite the anticipated recoveryin 2017, Brazil will remain a highly challenging market due to price and market access controls.
Headline Expenditure Projections
Pharmaceuticals: BRL73.65bn (USD19.87bn) in 2016 to BRL77.64bn (USD23.89bn) in 2017; +5.4%in local currency terms and +20.2% in US dollar terms. Local currency forecast unchanged fromprevious quarter.
Healthcare: BRL541.77bn (USD155.35bn) in 2016 to BRL585.11bn (USD180.03bn) in 2017; +8.0% inlocal currency terms and +15.9% in US dollar terms. Local currency forecast unchanged from previousquarter.
The National Sanitary Surveillance Agency (ANVISA) of Brazil is drafting legislation that regulates theminimum requirements for the administration of vaccines in pharmacies which, if passed, will boostcommercial opportunities for vaccine producers.