Pharmaceuticals As A Market Sector: Availability, Importation, and “Mafia” Prices

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Pharmaceutical Business Between Central America and Mexico

From January to November 2017, countries in the region imported $264 million worth of pharmaceutical products from Mexico, and 50% was acquired by companies in Panama.

Wednesday, January 31, 2018

Figures from the information system "Trade between Central America and Mexico", compiled by the Business Intelligence Unit at CentralAmericaData :

Imports by country 
In the first 11 months of 2017, the main Central American buyer of pharmaceutical products from Mexico was Panama, with $131 million, followed by Guatemala, with $42 million, Costa Rica, with $37 million, El Salvador, with $24 million, Nicaragua, with $15 million and Honduras, with $14 million. 

Variation of regional imports 
Between January and November 2016 and the same period in 2017 the import value registered a fall of 4%, going from $276 million to $264 million. 

The reduction contrasts with figures from the previous periods, as for the period in question of the years between 2013 and 2016, imports grew at an average rate of 7%.

 

https://www.centralamericadata.com/en/article/main/Pharmaceutical_Business_Between_Central_America_and_Mexico

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Pharmaceutical Products: Trade with Mexico

In 2017, countries in Central America bought $284 million worth of pharmaceutical products from companies in Mexico, and 49% were purchased from Panama.

Monday, March 5, 2018

Figures from the information system "Trade between Central America and Mexico", compiled by the Business Intelligence Unit at CentralAmericaData:

Imports by country 
In 2017, the main Central American buyer of pharmaceutical products from Mexico was Panama, with $193 million, followed by Guatemala, with $45 million, Costa Rica, with $41 million, El Salvador, with $27 million, and Nicaragua and Honduras with $16 million each.

Last year, Panama was the second largest buyer of Mexican pharmaceutical products, second only to the US.

Variation of regional imports 
Between 2016 and 2017, the import value registered a fall of 5%, going from $299 million to $284 million.

The reduction contrasts with the figures of previous years, since during the period between 2013 and 2016, imports grew at an average rate of 6%.

 

https://www.centralamericadata.com/en/article/main/Pharmaceutical_Products_Trade_with_Mexico

[MarieElaine]

Are prescription drugs still being held up by customs in Panama?  I had trouble getting my blood pressure medication because of their scrutiny for "fake drugs" when I lived there.  Is this still an ongoing issue?

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“Mafia” medicine prices endangering lives

Abyssmal pricing at all levels

Posted 18/03/2019

 

With a policy of free supply and demand, the manufacturers, local and international distributors, as well as drug retailers, in complicity with some officials, have created a tangle that,, evidences a mafia that puts lives of  at risk.

PATIENTS wonder, says a  La Estrella investigation how it is possible that in neighboring countries and even in the first world a drug can be bought up to 500% below the price in the local market. They warn that this same cartel generates fictitious and intentional shortages in the Social Security Fund (CSS) and the Ministry of Health, and generate complications that ultimately affect people. with health problems, forced to pay high costs for a product on which they depend.

"Proof that Panamanians pay brutally high prices for drugs: Xalatan rose from $ 55.21 to $65.10 in less than a month," says Guillermo Adames in his Twitter account. 'In Spain, these same drops only cost $8.29 euros ($10)”

In another tweet, the social communicator says that the “price of medicines continues to rise excessively. The Tritace of 10 mgs. for patients with high blood pressure increased $5.00, knowing that 40% of Latin Americans are at risk of cardiovascular disease ".

Juan Carlos Planells also used his Twitter account to denounce what could be considered an abuse. 'Crestor of 28 tablets in Spain is $12. In Panama 30 cost $ 66. Someone should explain why the difference, "he said.

Roger Barés, of the Protection Committee for Patients and Families, warned that "there is a group of bad manufacturers and vendors who control the prices of medicines ... Some services put excessive prices."

The patient advocate pointed out that distributors and pharmacies intentionally cause shortages to make the product more expensive so that public health institutions have to buy it at higher prices. "The sale of medicines is being strangled to force the authorities to buy directly, three, four and even seven times more expensive."

Minister of the Health portfolio, Miguel Mayo, complains “There is no justification for medicines being so expensive in Panama. The pharmaceutical industry has to introduce their medicines at lower prices and distributors and pharmacies maintain adequate and non-abusive margins, "he said in his Twitter account @mayogastro.

 CSS Director, Julio García Valarini, said  “we are kidnapped'. He calculated the price inflation of private medicine (in general) by 500%. In the specific case of medicines, he mentioned an example: a treatment for renal failure that CSS purchases at $117, a medication that costs $350 at the private pharmacy. In contrast, in Colombia it costs about $48, but "I cannot buy it there because the Law does not allow it, despite the fact that there is a distributor of that medicine here in Panama." said García Valarini.

Ligia Álvarez, president of the National Association of Pharmacists of Panama, recognizes that it is a reality that the cost of medicines in the country is the highest in the region. However, it considers that the Executive can establish reference prices if it detects surcharges, but it does not do so because of commercial pressures, 'because we are a market of free supply and demand'.

Carlina Santana, director of the School of Pharmacy at the University of Panama, said that there has been a significant increase in the prices of medicines. If you compare them with those of other countries, the difference is abysmal, he says.

The usual justification: the country is a small market compared to the neighbors. The market for supplies and sales of medicines depends 95% on imported products. Panama is not a manufacturer of medicines: only 5% of national consumption comes from local companies producing that are dedicated to the production of medicines.

In 2018, imports of medicines averaged $40.5 million, according to the Comptroller's Office. 60% of the products that are imported are destined for drug programs through the CSS.

 

https://www.newsroompanama.com/health/mafia-medicine-prices-endangering-lives

[Brundageba]

A neighbor who is out of the hospital for recent surgery asked me to buy some chewable tablets for intestinal gas.  The pharmacy wanted 80 cents for each tablet.  Ridiculous!  I bought 3.

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Pharmaceuticals: Which Markets are Growing the Most?

From January to September 2019, pharmaceutical product imports in Central America totaled $2.614 million, 8% more than in the same period in 2018, with El Salvador, Panama and Costa Rica being the markets where purchases increased the most.

Tuesday, February 18, 2020

Figures from the Trade Intelligence Unit at CentralAmericaData:

 

Costa Rican Companies: Main buyers
From January to September 2019, the main buyer of pharmaceutical products in Central America was Costa Rica with $611 million, followed by Panama with $524 million, Guatemala with $489 million, Honduras with $381 million, El Salvador with $346 million and Nicaragua with $269 million.

Regarding the year-on-year variation in purchases abroad, for the period in question El Salvador reported a 28% increase, followed by Panama with 19%, Costa Rica with 7%, Guatemala with 3% and Honduras with 0.8%. Nicaragua was the only market in the region to register a negative variation, of -6%.

Regional Business Upwards
Between the first nine months of 2018 and the same period in 2019, the value of pharmaceutical products imported into Central America registered a positive variation, rising from Ch$2,418 million to Ch$2,614 million.

For the periods in question, regional purchases from India increased by 19%, from $134 million to $159 million.

U.S. and Germany: Main Suppliers
Between January and September 2019, 9% of the value imported from Central America came from the USA, 9% from Germany, 8% from Mexico, 6% from India, 5% from Spain and 4% from Colombia.

Germany is the country of origin of Central American imports that has grown the most in the period in question over the last eight years, since in 2012 it represented 4% of the total value purchased, and in 2019 it rose to 9%.

 

https://www.centralamericadata.com/en/article/main/Pharmaceuticals_Which_Markets_are_Growing_the_Most