Designated as a "pharmerging market," Brazil is revamping its pricing models.
Report From: Brazil Designated as a "pharmerging market," Brazil is revamping its pricing models. Sep 2, 2009 By: Marcelo Sicoli Pharmaceutical Technology Volume 33, Issue 9, pp. 18-22 Brazil is the eighth largest pharmaceutical market in the world with 2008 sales estimated at $19.5 billion and the number of units sold in 2008 estimated at 1.8 billion (1). By 2011, Brazil and the other "pharmerging" markets (Russia, India, China, Mexico, South Korea, and Turkey) are expected to contribute approximately 27% of the overall global pharmaceutical growth and 16% of the global market (2). Keen to take advantage of this growth, the Brazilian government has been proactive on the regulatory and entrepreneurship fronts. Remodeling pricing One issue at center-stage in the Brazilian pharmaceutical market is its pricing models. The government is known to purchase medical products through public biddings to get the lowest possible prices. Now, pharmaceutical companie