Colombia Pharmaceuticals and Healthcare Report Q4 2017
Colombia will remain a highly challenging market for multinational drugmakers due to thecontinued implementation of strict price controls. The government will continue to enforce price pressureson medicines despite opposition from the pharmaceutical industry and the Ministry of Commerce, as well asthe possible aggravation of backlash due to existing regulatory deficiencies. Despite this, we forecast robustgrowth in pharmaceutical spending on the back of a high burden of both communicable and noncommunicabledisease.
Headline Expenditure Projections
Pharmaceuticals: COP9,581bn (USD3.14bn) in 2016 to COP10,092bn (USD3.48bn) in 2017; +5.3% inlocal currency terms and +10.9% in US dollars. Local currency forecast unchanged from previousquarter.