In November 2011, we opened our first South American office in São Paulo, Brazil, in order to explore the market, expand international operations, and provide better services to our growing customers in the region.
Brazilian Pharmaceuticals Sector
By 2016, Brazil is expected to be the sixth-largest pharmaceutical market in the world. It is one of the world’s largest and fastest growing consumer markets. Growth drivers include rising incomes, growing middle class, an aging population and robust sales of generic drugs. According to Sindusfarma*, the Brazilian pharmaceuticals market has definitely been growing more than 10% for last past five years and should continue to see sales increase annually by 12-15%.
*Sindusfarma is the São Paulo state pharmaceutical products industry association