In order to provide guaranteed low cost medicine, the Ecuadorian government is moving forward in agreements with Indian and Spanish pharmaceutical companies, said Claudio Galarza, General Manager of Enfarma from Ecuador.
This mission, defined as “a drug-economy”, has been developed for over a year ago with Indian companies, which allowed savings of 30% and expect to achieve a 40% by 2015 and 2016.
The negotiation that takes place at the General Consulate of Ecuador in Bombay, is agreeing on the price of between 260 and 300 medicines from India.
Novocat Farma, of Spain, created the designs for the 7 medicine production plants to be built in the Yachay City of Knowledge. This work is expected to be completed within 18 to 24 months.