The pharmaceutical industry engages in the research, development, production and sale of chemical products or bio-drugs used for disease prevention or treatment. Drugs, vaccines and antiserums, vitamins, pharmaceutical preparations for veterinary use, and other products comprise the industry.
It is estimated that the industry in Mexico produced 9.6 billion dollars in 2016.
In 2016, Mexican pharmaceutical exports reached 1.4 billion dollars, making Mexico the leading exporter in Latin America.
The main export destinations were the United States, Panama and Colombia, with shares in total Mexican exports from the industry of 21%, 14% and 7%, respectively.
Among the products that were most exported are medicines for prophylactic or therapeutic use, other antisera and products that contain vitamins.
According to INEGI, there are 793 economic units in Mexico that specialize in the pharmaceutical industry. They are located mainly in Mexico City, Jalisco, Estado de México, Puebla and Morelos.
Twenty of the 25 top international pharmaceutical companies have presence in Mexico, such as Bayer, Pfizer, MSD, Grupo Novartis MÃ©xico, GlazoSmithKline, Merck, Boehringer Ingelheim, Shering Plough, Aztrazeneca, Baxter and Elli Lilly Company.
The pharmaceutical industry recorded an accumulated investment of 4.8 billion dollars in the 2010-2016 period.
•Manufacturing Costs. KPMG's study Competitive Alternatives 2016 shows that Mexico offers savings of 17.1% in manufacturing costs in the pharmaceutical industry compared to the United States.
•Market Size. The Mexican pharmaceutical market is the second largest in Latin America. In 2016 alone, the Mexican population consumed 13.6 billion dollars in pharmaceuticals.
•Regulations. Mexico is one of the most developed markets in Latin America in terms of regulations; the Federal Commission for the Protection Against Health Risks (COFEPRIS) has been recognized by the Pan-American Health Organization as a health regulatory, control and promotion authority in Mexico.
•Export Platform. Mexico's location enables considerable savings in logistics and close monitoring of the manufacturing process, facilitates plant inspection by health authorities and allows rapid response to sudden changes in demand trends.