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Home » Brazilian Firms Report Stellar Market Growth in 2004
Brazilian Firms Report Stellar Market Growth in 2004
May 23, 2005
According to Brazilian industry federation Febrafarma, the country's drug market expanded by 17.67% in 2004, reaching a value of BRL19.8bn (US$8.11bn). The association notes that this is the best performance since 1998, when sales began a long slide as the economy declined.
The results confirm views that the market recovered strongly in 2004, with the medium-term outlook now strong. The consensus among local players is that market growth will cool to roughly 9% this year.
Febrafarma, which represents drug firms accounting for roughly 70% of the market, also expects member companies to invest some US$314mn this year. In addition to modernisation spending, US$32.5mn is to be spent on R&D, with US$35.7mn allocated to new marketing expenditure.
KEYWORDS Daily International Pharma Alert
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