The local pharmaceutical industry is lagging behind

The local production of drugs is fed by the national preferences that have been established in the public procurement. The institutional market, which by 2015 had planned to spend 500 million for two years and has already disbursed _ _ another biannual 450 million for drug procurement, has helped to leverage the investment in laboratories.

During the 2000-2013 period public health spending has grown at an annual rate of 5.8%. The investment of the local pharmaceutical industry was carried out as follows a 57% for the purchase of machinery and equipment,  a 32% for the improvement of infrastructure and an 8% for research and development.

That makes, according to the study of the pharmaceutical industry prepared by the Espae-Espol, laboratories able to respond to the increasing demand due to the population aging and growth, and the public health coverage (76% of medicines are sold under prescription), through the production of generics. The release of patents is an opportunity for an industry dedicated to this type of medication that, with a standardized regulatory policy, can also be opened to other markets.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8823047&idcat=38229&tipo=2