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The pharmaceutical sector seeks a greater market share
Posted On 04 Jul 2017
Ecuadornews:
With the arrival of new government authorities, the pharmaceutical industries expect a better scenario. After vehicles, drug imports are the second headache of the trade balance deficit ($ 1 billion annually). Faced to this, the sector proposes to the government to improve the conditions to increase its participation in the market that, so far, reaches only the 16%.
It is 3% more than in 2012, but progress is minimal when talking about an industry that could well amount to a 40% stake, considering its technology and capacity. With this proposal, the Association of Pharmaceutical Laboratories of Ecuador (Alfe) has started dialogues with the Minister of Industries Eva Garcia.
In a nutshell:
The sector dialogues with the Ministry of Industries to implement changes. The industrialists demand to eliminate taxes and to reform certain administrative processes that give advantages to foreign companies. 84% of the local market is covered with drugs that arrive from other countries. (I)
Source: http://www.expreso.ec/economia/el-sector-farmaceutico-busca-mayor-participacion-EX1514240
