Date

16 de June 2014

Bogota seeks to establish itself in the global pharmaceutical market

Bogotá
global pharmaceutical market
  • Invest in Bogota participates in the 21st ANDI Pharmaceutical Forum, the national meeting of the health and pharmaceuticals sector, where the main topics of current concern to the industry are presented and discussed.
  • The pharmaceutical sector has a high growth potential in Bogota, the epicenter of the industry in Colombia, representing 42% of pharmaceutical sales, 72% of its pharmaceutical companies, and 55% of the jobs in the sector, with approximately 13,200 people.
  • Juan Gabriel Pérez, CEO of Invest in Bogota, notes that “the pharmaceutical sector requires specialized human resources and involves a high level of innovation for its development.”
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Invest in Bogota participated in the 21st ANDI Pharmaceuticals Forum, where the main topics of current concern for the health sector and the pharmaceutical supply chain are presented. The forum is an opportunity for Bogota to analyze the sector’s local and global macroeconomic scenario and continue to refine its compelling value proposition for this market.

The twenty-first edition of the forum analyzes topics such as the management and productivity of the pharmaceutical industry and its supply chain, the future scenario of the pharmaceutical industry and the health sector, among others. It also boasts the presence of the Governor of the Central Bank, José Darío Uribe; former Finance Minister and current professor at Universidad de los Andes, Guillermo Perry Rubio; Minister of Health and Social Protection, Alejandro Gaviria Uribe; Finance Minister, Mauricio Cardenas Santamaria; Minister of Trade, Industry and Tourism, Santiago Rojas, and other international agencies.

The pharmaceutical sector has a high growth potential in the city. If national trends are analyzed, then the Colombian pharmaceutical market is the fifth largest in Latin America, with approximately 250 companies among producers and importers, and Bogota is at the center, accounting for 42% of pharmaceutical sales in the country, 72% of pharmaceutical companies, and 55% of the jobs in the sector, with approximately 13,200 people.

The robust local market and the possibility of accessing a global market of 1.4 billion potential customers, its strategic location and the fact that it is the “No. 1” cargo hub in Latin America, as well as its highly skilled workforce and favorable business climate, are just some of the advantages Bogota offers international companies looking to expand their business into Latin America and Colombia. Multinationals, such as GlaxoSmithKline, Roche, Novartis, Pfizer, MSD, and Aurobindo are already operating in the city.

Juan Gabriel Pérez, CEO of Invest in Bogota, notes that “the pharmaceutical sector requires specialized human resources and demands a high level of innovation for its development, two factors where Bogota offers competitive advantages: the city has a highly qualified workforce of more than 4 million people, which represents about 51% of the science, technology, and innovation activities, and has over 2,000 active research groups.”