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Mexico seeks integration of Latin American pharmaceutical market

Mexico City, May 3 (Prensa Latina) Mexico's Secretary of Foreign Affairs Alicia Barcena led on Friday a meeting with representatives of the pharmaceutical industry in search of greater regional integration in terms of self-sufficiency and health sovereignty.

Alongside the head of the Federal Commission for Protection against Health Risks, Alex Svarch, and Jean-Marc Gabastou of the Pan American Health Organization, the meeting aimed at boosting the integration of the Latin American pharmaceutical market, which is expanding and is one of the most promising in the world.

‘We have a clear roadmap (…). The pharmaceutical sector is pivotal, it generates employment and the potential for technological innovation,’ Barcena noted.

The diplomat added that regional sales are projected to grow by 9.7% on average cumulative annual growth between 2021 and 2026, which will position this market as the fastest skyrocketing in the world over the next six years, the secretary added.

According to research by Vargas V, et al. (2022), pharmaceutical innovations, along with rising living standards and more effective public health interventions have been significantly pivotal in extending life expectancy and improving life quality of the population in Latin America and the Caribbean.