The life sciences industry includes the pharmaceutical, medical devices and biotechnology sectors. In this industry Mexico is distinguished by its specialized human resources, competitive costs, quality and large domestic market.
The life sciences industry includes the pharmaceutical, medical devices and biotechnology sectors. In this industry Mexico is distinguished by its specialized human resources, competitive costs, quality and large domestic market.
According to Business Monitor, the health sector in Mexico brought in $13.48 billion USD in 2008, positioning it as the second most important market in Latin America.
Mexico is a good exporter of medical equipment ($5.3 billion USD in 2008); it is ranked in fifth place and is the first supplier to the United States. The country’s market for medical appliances is the second largest in Latin America, following Brazil. Some 200 pharmaceutical companies operate in Mexico, employing 40,000 people, while there are an additional 130 businesses specializing in the manufacture, repair or assembly of medical appliances. In 2008, Mexican medical device exports reached $4.84 billion USD. The main export destinations were the United States, the Netherlands and France. The country was the top exporter of pharmaceutical products in Latin America, with total sales abroad of $1.31 billion USD. In 2007, the value of the pharmaceutical industry’s output was $9.2 billion USD.
Foreign Direct Investment
Foreign direct investment in the Mexican pharmaceutical industry totaled $11billion USD between 1999 and 2008. The main investments came from the United States, followed by the Netherlands, Spain, Luxembourg and Germany.
Success stories
Sanofi-Aventis invested 100 million Euros in 2009 for construction of a factory to manufacture seasonal and pandemic flu vaccines, which will be located in the state of Mexico. It will produce the vaccines in collaboration with Laboratorios Biológicos y Reactivos de México (Birmex), a Mexican vaccine manufacturer that will be responsible for certain stages of the process and will be in charge of distribution in the country.
Beckton Dickinson invested $150 million USD in 2009 for the expansion of its plant in Cuautitlán, state of Mexico. This growth generated more than 600 jobs in addition to the 3,500 direct jobs that already existed. This complex, opened in 1983, produces plastic and glass syringes.
Pfizer invested $4.1 million USD between 2008 and 2009 for the expansion of its quality operations building at its Toluca plant in the state of Mexico. This expansion reflects the company’s growth in the region and facilitates the undertaking of the studies requested by several health agencies in Latin America.
According to techparksmty