Mexican Drug Industry Studies India Opportunities

An 11-member delegation comprising representatives of the Mexican drug industry has recently completed a visit to India, aimed at exploring joint opportunities in contract research and manufacturing.

The discussions are also understood to have focused on easing Indian generics makers' access to the Mexican market. Among the significant generics-based Indian firms to have participated are Strides Arcolab, Biocon, Cipla, Wockhardt, Aurobindo, Nicholas Piramal, Sun Pharmaceutical and Ranbaxy. Further, the delegation has also inspected a number of leading research institutions and met with prominent local officials.

The visit marks a concerted effort to boost the penetration of generics in Mexico, with the sector's value currently estimated at just 2% of the country's US$8.3bn drug market. Recent Mexican government policy has encouraged reforms clarifying the legal status of generic medicines, as well as the creation of a new health regulator, COFEPRIS, regulating the sector more effectively and encouraging consumer acceptance of generic medicines. For Indian firms, Mexico represents a significant opportunity not only as Latin America's largest drug market, but also as a member of NAFTA alongside the lucrative markets of the US and Canada.