BRAZIL TO APPROVE NEW DRUG PRICE RISE

Brazilian drug pricing regulator CMED is expected to announce a rise in official drug prices of no more than 5% for the forthcoming financial year. The country is unique in Latin America for its market-wide system of controls, with retail prices drug costs effectively frozen for more than two years.

The previous annual price adjustment -- which expires in April -- drew strong criticism from drugmakers, claiming that the maximum 8% rise failed to account for surging inflation and import costs. However, local sources note that the Brazilian currency's rapid appreciation against the US dollar in the last 18 months has eased some of the pressure on importers.