Comparisons of prices and real products in Latin America

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China and Latin America: What You Need To Know – COHA

After a few false starts - for instance, Argentina's great and complicated economic crash that hit bottom in - most Latin American countries focused on slower growth in industries such as agriculture, tourism, mining, and forestry. In Central America, Costa Rica and Nicaragua are fostering "eco-tourism" as an industry , and in Nicaragua, "fincas," which combine cooperative agriculture with tourist resorts, are drawing investors. Another measure of long-term economic health is the ability of a nation to feed its people, and still be left with enough products for exports.

A great advantage that South America has over Asia is that there are more South American countries than Asian countries with a biocapacity surplus - that is, they have more productive land and water than is needed by their population. With the exception of Mongolia and East Timor, one needs to go down the list of countries to Laos at number 43 before finding another Asian country that can produce enough to feed its own populace.

Analysts realize that much of the fighting in the world this century has been driven by the need for certain natural resources - especially water and oil. Latin America enjoys significant reserves of oil in a number of places, and the region is fortunate in having sufficient water, and thus will be able to benefit from the biocapacity surplus while other parts of the world will be in need of those very resources. Coffee, cacao, iron ore, steel, as well as a quarter of the world's copper are all staples of Latin American countries. In a country that can feed its populace, poverty and even hunger does not result in starvation, allowing 1 a productive workforce; 2 the potential for a trade surplus; and 3 the freedom to focus heavily on education, as the populace is fed sufficiently, though sometimes meagerly.

Bayer in Latin America

It means state spending can focus on infrastructure and economic development, instead of constantly having to address starvation. The downsides Politically, Latin America has had a troubled past. Unfortunately, the relationship between Latin America and capitalism has been a strained one, and some Latin American countries hesitate to make that commitment because of a history of exploitive relationships with capitalist corporations like United Fruit in Guatemala or Chevron in Ecuador. This reluctance has led to some economic disasters - such as Venezuela's big crash of , caused in part by the nationalization of the oil industry and subsequent dependence on oil prices for growth.

Despite this unfortunate history, Latin America will thrive best if it allows more free-market development to mix with its justifiably cautious approach to capitalism, and to rebuild investors' trust in the integrity of its economic foundation. Also in part because of the troubled history with the United States, Latin American countries turned to other sources of investment, particularly China , which is now suffering its own recession and causing repercussions to Latin America's overall economic health.

The Latin American economy had come to be closely aligned with the Chinese commodities market, so when China began to crash, Latin American growth slowed as well.

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There is recognition that not all Latin American countries will fare the same, as approaches to political and economic allegiances vary from country to country, but dangers that may arise or continue to exist in and the years following include lower tax revenue, loss of capital and investors, unstable currencies, high levels of inflation, and a weakened export market. A Promising Future So with all this bad news, why might one be optimistic about Latin America's economic future?

For one thing, the issues discussed above, though painful, are manageable - and are largely the result of political and economic management choices, rather than inherent gaps in the socio-political and economic structures of these countries. Another advantage for Latin America is that, despite a tense history, the Latin culture is still more compatible with U.

Cutting Your Cost to Ship to Latin America

A greater level of similarity and understanding exists between the U. The world is suffering economically right now, and Latin America, naturally, has its share of woes and worries, and an extra serving of growing pains. But the region is rich in natural resources, and is emerging cautiously onto the economic stage. It gathers vaccines to immunize 15 million people and attracts 31 manufacturers.

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Whoever offers the lowest price wins the right to sell vaccines to 41 Latin American countries, taking a major chunk of business 7. Not only significant discounts are achieved, but also the contract signed with the winners ensures PAHO will always have the lowest price in the globe. Regional consolidated tenders for anti-hypertensive, anti-diabetic drugs should be the next wave and prices will drop further.

And others will come soon: during the June meeting of MERCOSUR Ministers of Health, it was decided that they would pursue pooled joint purchases in order to achieve greater bargain power in their medication purchases. Pharmacy chains used to do business in one country and sometimes only in a particular area of a larger country. This allowed a pharmaceutical company to negotiate in isolation with each client, with more bargaining power.

Now you take a country like Brazil, where about 8 years ago a drugstore chain based in Sao Paulo opened a store in Fortaleza, Ceara in the northeast, just to see it boycotted by local players and local government.

What does this mean? These are professional, well-run retailers who oftentimes have better information and are better organized than the pharma companies themselves. It is reasonable to think that they could try to negotiate regional deals, obtaining better prices, better discounts, squeezing pharmaceutical companies margins.

Comparisons of Prices and Real Products in Latin America (Contributions to Economic Analysis)

I will stop with these four storms, although one could argue that there are others on the way: take biosimilars for instance. The difference here is that the company that owns the branded biological has the choice of lowering the price or not. The four storms are arriving at different paces - but at some point they will merge and we must be prepared. The increased demand was not enough to maintain sales, neither in the payers segment nor in the out-of-pocket market.

Worse, the price cut will trim your margin more than the sales itself as well. However, this has proved to be very tricky and brings many risks. If you have a product that is mostly in the out-of-pocket segment and is taking a big price cut, you must try to increase your sales mass as much as possible. The way out is getting access to large cohorts of patients, which can only be achieved through payers. And the name of the game for payers is Value - thus, you will have to develop a strong Market Access culture that unites all areas of the company market access, medical, marketing, sales and so on.

For those who have responsibility for multiple countries, it is critical to have some level of price uniformity across them, even if this will hurt competitiveness in smaller countries with low price levels.

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  6. What you cannot allow is to have this small country with very low price become reference for a bigger country and hurt overall business. Looking at Latin America, Ecuador comes as a good example of a small country with pharmaceutical prices frozen for many years - and decreasing - becoming reference to a larger market Colombia , causing price cuts and jeopardizing business there.

    If you do not know every word of the price regulations, you will probably lose money by allowing price erosion that otherwise could be avoided. Sometimes even how the company manages a new product registration will make a difference. In some countries, if you register a product as line extension it will be priced based on the existing product.

    If you apply with a new registration dossier, you may be able to set a new and better price. The new pricing environment calls for a professional that goes beyond following the regulations and calculating official price increases.

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    iShares Latin America 40 ETF

    You need professionals that find pricing opportunities, understand the impacts of neighboring countries' prices, are familiar with pricing studies, can dialogue with the pricing function at headquarters and have a good understanding of health economics principles. So you need someone else in charge. Pharma has always been somewhat careless with commercial conditions, since margins were comparably higher than in many other industries. This is no longer the case, so you need to go in great depth on all types of discounts, rebates, promotional allowances etc.

    Do you really know the cost-to- serve for every client? If not, it is time to start doing your homework. In industries with slim margins beverages, consumer goods there is the role of Revenue Manager who is in charge of maximizing Net Sales by close control of the gross-to-net elements. Few pharmaceutical companies have this role yet. Easier said than done The Colombian pharmaceutical industry associations were able to achieve good dialogue with the government and could prevent major mistakes in the new regulations. Marketing is his main expertise, in a wide range of markets: OTC, prescription, vaccines and specialty products.