Fact Sheet Reveals Mexico's Increasing Investment in Biopharmaceutical Sector
Released on: October 22, 2010, 5:21 am
Author:
Global Health Progress
Industry: Pharmaceuticals
A recent Global Health Progress fact sheet highlights how
Mexico’s investment in its biopharmaceutical sector has spurred
economic growth, fostered global competitiveness, reduced the health
and economic burden of disease on local citizens, and improved access
to medicines. With the tenth largest economy in the world, Mexico is
currently investing more than 1% of its gross domestic product into its
biopharmaceutical sector and this percentage is anticipated to increase
as the country works to develop tomorrow’s medicines.
Like the U.S. and other big emerging markets, Mexico has recognized the potential of
the biopharmaceutical sector to be an important source of economic growth through
the creation of high-quality, high-skilled jobs. Currently, Mexico’s
biopharmaceutical sector employs nearly 25,000 Mexican nationals at more than 32
biotechnology companies. The number of skilled workers entering the workforce is
predicted to increase as more than 750,000 engineering and technology students in
Mexico are currently enrolled in local universities. Additionally, collaboration
between the public and private sector has resulted in the creation of more than 100
research centers.
Mexico’s emphasis on job creation stimulates the developments of new drugs, which
improves access to medicines for its entire citizenry. For example, there are
approximately 254 medicines in development or awaiting regulatory review for Mexican
patients and Mexico currently ranks 19 out of 25 in terms of active clinical trial
sites. The growth in share of global clinical trial sites can bring health benefits
to Mexican patients, such as diffusion of medical knowledge, greater patience access
to medicines and high quality care and effective medical practice.
Recognizing the potential for economic growth, improving access to medicines and
inspiring drug innovation, the Mexican government has sought to implement policies
to foster the growth of the sector. The National Council for Science and Technology,
the principal government funding agency for scientific research in Mexico, provided
approximately US $16 million to fund basic science projects between 2001 and 2004.
Mexico also has several bioclusters, made up of biotechnology, biopharmaceutical and
related companies, focused on pharmaceutical R&D. In addition, public-private
partnerships between the Mexican government, academia and industry are increasing
due in part to the government’s continued commitment to science and technology
research and education.
Please view full PDF for additional information and list of sources.
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Contact Details: Mark Grayson
(202) 835-3460
MGrayson@phrma.org
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